Valliance Asset Management Ltd Invests $1.69 Million in GE Vernova Inc. (NYSE:GEV)

Key Points

• Valliance Asset Management Ltd acquired 5,550 shares of GE Vernova Inc., valued at approximately $1.7 million, making it the fund's 7th largest holding.
• Several institutional investors have recently established or increased their positions in GE Vernova, reflecting growing interest in the company.
• The stock has received a consensus rating of Moderate Buy from analysts, with target prices ranging from $517 to $715.

Valliance Asset Management Ltd acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,550 shares of the company's stock, valued at approximately $1,694,000. GE Vernova accounts for about 3.8% of Valliance Asset Management Ltd's portfolio, making the stock its 7th largest position.

Several other hedge funds have also added to or reduced their stakes in GEV. Brighton Jones LLC raised its position in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares during the period. American Assets Inc. bought a new stake in shares of GE Vernova in the fourth quarter valued at approximately $658,000. Pictet Asset Management Holding SA raised its position in shares of GE Vernova by 9.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 144,343 shares of the company's stock valued at $47,479,000 after purchasing an additional 12,187 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of GE Vernova by 14.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 9,752 shares of the company's stock valued at $3,208,000 after purchasing an additional 1,203 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of GE Vernova by 3.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,931 shares of the company's stock valued at $1,293,000 after purchasing an additional 147 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $4.55 during trading on Friday, hitting $655.75. The company's stock had a trading volume of 2,630,152 shares, compared to its average volume of 3,669,422. The company has a fifty day simple moving average of $526.57 and a two-hundred day simple moving average of $413.87. The company has a market capitalization of $178.51 billion, a PE ratio of 158.20, a P/E/G ratio of 4.53 and a beta of 1.86. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GEV shares. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Bank of America boosted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Susquehanna boosted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average price target of $560.21.

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.