M1 Capital Management LLC Invests $374,000 in GE Vernova Inc. (NYSE:GEV)

M1 Capital Management LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,136 shares of the company’s stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $219,000. Geneos Wealth Management Inc. purchased a new position in GE Vernova in the 4th quarter worth about $669,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in GE Vernova by 11.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,632 shares of the company’s stock worth $537,000 after buying an additional 167 shares during the period. Finally, Drive Wealth Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at about $244,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. Susquehanna restated a “positive” rating and issued a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. TD Cowen decreased their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Guggenheim reiterated a “buy” rating and set a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $374.62.

GE Vernova Price Performance

NYSE:GEV opened at $470.88 on Wednesday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $476.01. The company has a fifty day moving average price of $363.53 and a 200 day moving average price of $352.45. The stock has a market cap of $128.52 billion and a P/E ratio of 84.69.

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

GE Vernova Dividend Announcement

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

About GE Vernova

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.