Sagespring Wealth Partners LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Sagespring Wealth Partners LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,390 shares of the company's stock, valued at approximately $786,000.

Several other institutional investors have also modified their holdings of the company. Register Financial Advisors LLC bought a new position in GE Vernova in the 4th quarter worth about $206,000. GPS Wealth Strategies Group LLC grew its holdings in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after buying an additional 822 shares in the last quarter. Yarbrough Capital LLC increased its position in GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after acquiring an additional 1,160 shares during the period. Legacy Bridge LLC boosted its position in GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co boosted its position in GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock worth $3,247,000 after acquiring an additional 1,408 shares during the period.

GE Vernova Stock Performance

Shares of GEV stock traded down $5.36 on Friday, reaching $322.81. 2,859,246 shares of the company's stock traded hands, compared to its average volume of 3,362,406. The business's 50 day moving average price is $321.67 and its two-hundred day moving average price is $330.67. The company has a market capitalization of $88.24 billion and a P/E ratio of 58.06. GE Vernova Inc. has a 12-month low of $132.11 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating on the stock. Jefferies Financial Group boosted their price target on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird reduced their price target on shares of GE Vernova from $448.00 to $387.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Finally, Truist Financial set a $440.00 target price on GE Vernova in a research report on Thursday, March 27th. Seven investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $357.13.

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.