Allegiance Financial Group Advisory Services LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,130 shares of the company's stock, valued at approximately $345,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter worth about $25,000. Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of GE Vernova in the 4th quarter valued at about $30,000.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Susquehanna reaffirmed a "positive" rating and set a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Barclays upped their price target on GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. UBS Group started coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $468.88.
Read Our Latest Stock Analysis on GE Vernova
GE Vernova Stock Performance
GE Vernova stock traded up $1.19 during mid-day trading on Friday, reaching $571.36. 619,495 shares of the company were exchanged, compared to its average volume of 3,296,681. The business has a fifty day moving average of $489.76 and a 200 day moving average of $395.72. The firm has a market cap of $155.94 billion, a P/E ratio of 82.13, a PEG ratio of 4.18 and a beta of 1.86. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $581.27.
GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results 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 analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) earnings per share. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is presently 14.41%.
GE Vernova Profile
(
Free Report)
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.
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