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

Brighton Jones LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GEV. Beacon Capital Management LLC grew its position in GE Vernova by 75.5% during the 4th quarter. Beacon Capital Management LLC now owns 172 shares of the company’s stock worth $57,000 after purchasing an additional 74 shares during the last quarter. Principal Securities Inc. grew its position in GE Vernova by 29.0% during the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company’s stock worth $622,000 after purchasing an additional 425 shares during the last quarter. Allworth Financial LP grew its position in GE Vernova by 38.8% during the 4th quarter. Allworth Financial LP now owns 5,688 shares of the company’s stock worth $1,871,000 after purchasing an additional 1,590 shares during the last quarter. Tcfg Wealth Management LLC purchased a new stake in GE Vernova during the 4th quarter worth approximately $210,000. Finally, Valmark Advisers Inc. grew its position in GE Vernova by 3.5% during the 4th quarter. Valmark Advisers Inc. now owns 2,424 shares of the company’s stock worth $797,000 after purchasing an additional 81 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $487.69 on Tuesday. The company has a fifty day moving average of $412.15 and a two-hundred day moving average of $366.91. The stock has a market capitalization of $133.11 billion, a PE ratio of 87.71, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72.

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

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

GEV has been the topic of several research analyst reports. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. BMO Capital Markets increased their price objective 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. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note on Thursday, March 27th. Citigroup cut their price objective on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Susquehanna reiterated a “positive” rating and issued a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.56.

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.