2,454 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Capital Planning Advisors LLC

Capital Planning Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 1st quarter, Holdings Channel reports. The fund bought 2,454 shares of the company’s stock, valued at approximately $749,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Navigoe LLC acquired a new stake in GE Vernova in the 4th quarter worth about $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova in the 4th quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new stake in GE Vernova in the 4th quarter worth about $30,000. Finally, EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the 1st quarter worth about $27,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $648.94 on Monday. GE Vernova Inc. has a 52-week low of $172.60 and a 52-week high of $677.29. The firm has a 50 day moving average price of $548.53 and a two-hundred day moving average price of $424.45. The stock has a market cap of $176.65 billion, a P/E ratio of 156.37, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the prior year, the company posted $4.65 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio is 24.10%.

Analysts Set New Price Targets

Several analysts have weighed in on GEV shares. Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective for the company. in a research note on Monday, July 28th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $560.21.

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.