Polianta Ltd bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,900 shares of the company's stock, valued at approximately $1,190,000. GE Vernova makes up approximately 0.6% of Polianta Ltd's investment portfolio, making the stock its 29th largest position.
Other institutional investors and hedge funds have also modified their holdings of the company. Davis Investment Partners LLC lifted its stake in GE Vernova by 20.3% in the 1st quarter. Davis Investment Partners LLC now owns 2,011 shares of the company's stock worth $648,000 after purchasing an additional 340 shares in the last quarter. Sapient Capital LLC raised its stake in GE Vernova by 0.6% during the first quarter. Sapient Capital LLC now owns 101,290 shares of the company's stock worth $30,922,000 after purchasing an additional 565 shares during the period. Tran Capital Management L.P. acquired a new position in GE Vernova in the 1st quarter valued at about $15,852,000. GPS Wealth Strategies Group LLC grew its stake in shares of GE Vernova by 437.3% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 4,809 shares of the company's stock valued at $1,468,000 after buying an additional 3,914 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of GE Vernova by 10.1% in the 1st quarter. Fifth Third Bancorp now owns 96,442 shares of the company's stock valued at $29,442,000 after buying an additional 8,864 shares during the period.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. BMO Capital Markets raised their target price on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Guggenheim restated a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday. Finally, The Goldman Sachs Group increased their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $395.98.
Check Out Our Latest Research Report on GEV
GE Vernova Stock Performance
Shares of GEV traded down $9.74 during midday trading on Friday, hitting $477.93. The company had a trading volume of 2,432,081 shares, compared to its average volume of 3,280,688. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72. The firm has a market capitalization of $130.44 billion, a P/E ratio of 85.96, a P/E/G ratio of 3.03 and a beta of 1.97. The company's 50-day simple moving average is $404.31 and its 200-day simple moving average is $364.45.
GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company earned ($0.47) earnings per share. The firm's revenue was up 10.6% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.
About GE Vernova
(
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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