Brighton Jones LLC Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Brighton Jones LLC reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 2.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,232 shares of the company’s stock after selling 83 shares during the period. Brighton Jones LLC’s holdings in GE Vernova were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kovack Advisors Inc. grew its stake in shares of GE Vernova by 1.0% in the 4th quarter. Kovack Advisors Inc. now owns 3,167 shares of the company’s stock worth $1,042,000 after buying an additional 31 shares in the last quarter. Fulcrum Equity Management grew its stake in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock worth $291,000 after buying an additional 31 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of GE Vernova by 1.7% in the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company’s stock worth $600,000 after buying an additional 33 shares in the last quarter. Johnson & White Wealth Management LLC grew its stake in shares of GE Vernova by 3.7% in the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company’s stock worth $284,000 after buying an additional 33 shares in the last quarter. Finally, NewSquare Capital LLC boosted its stake in shares of GE Vernova by 32.4% during the 4th quarter. NewSquare Capital LLC now owns 139 shares of the company’s stock worth $46,000 after purchasing an additional 34 shares during the period.

GE Vernova Stock Performance

NYSE:GEV opened at $487.69 on Tuesday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72. The firm has a market cap of $133.11 billion, a P/E ratio of 87.71, a P/E/G ratio of 3.03 and a beta of 1.97. The firm has a 50-day simple moving average of $412.15 and a 200-day simple moving average of $366.91.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.47) EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Robert W. Baird lifted their price target on shares of GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Bank of America lifted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, Citigroup dropped their price target on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $404.56.

GE Vernova Company 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.