Sigma Planning Corp Buys 6,864 Shares of GE Vernova Inc. (NYSE:GEV)

Sigma Planning Corp lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 161.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,105 shares of the company’s stock after acquiring an additional 6,864 shares during the quarter. Sigma Planning Corp’s holdings in GE Vernova were worth $3,390,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GEV. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth approximately $25,000. Navigoe LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova in the 4th quarter worth approximately $30,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GEV shares. Barclays upped their price target on shares of GE Vernova from $550.00 to $580.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Susquehanna reaffirmed a “positive” rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. BMO Capital Markets increased their target price on shares of GE Vernova from $522.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, UBS Group started coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $459.29.

GE Vernova Trading Up 2.9%

NYSE GEV opened at $554.96 on Tuesday. The company has a fifty day simple moving average of $479.94 and a two-hundred day simple moving average of $391.73. The stock has a market cap of $151.46 billion, a P/E ratio of 79.96, a P/E/G ratio of 4.01 and a beta of 1.86. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $559.12.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.47) earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.18%. GE Vernova’s payout ratio is currently 14.41%.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.