University of Texas Texas AM Investment Management Co. Makes New Investment in GE Vernova Inc. (NYSE:GEV)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,579 shares of the company's stock, valued at approximately $1,835,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Diversify Wealth Management LLC increased its holdings in GE Vernova by 4.5% in the fourth quarter. Diversify Wealth Management LLC now owns 1,149 shares of the company's stock valued at $378,000 after purchasing an additional 49 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of GE Vernova by 3.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,133 shares of the company's stock valued at $373,000 after buying an additional 39 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of GE Vernova by 6.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,299 shares of the company's stock valued at $4,046,000 after buying an additional 695 shares during the period. Atomi Financial Group Inc. raised its position in shares of GE Vernova by 14.7% during the fourth quarter. Atomi Financial Group Inc. now owns 1,817 shares of the company's stock worth $598,000 after acquiring an additional 233 shares during the last quarter. Finally, Beaumont Financial Advisors LLC acquired a new position in shares of GE Vernova in the fourth quarter worth approximately $300,000.

GE Vernova Trading Up 1.4%

NYSE GEV traded up $6.49 during mid-day trading on Tuesday, hitting $470.88. The company's stock had a trading volume of 2,939,191 shares, compared to its average volume of 3,330,778. The firm has a market capitalization of $128.52 billion and a price-to-earnings ratio of 84.69. The company's 50 day simple moving average is $360.85 and its 200 day simple moving average is $351.62. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $477.91.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm 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 business's revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned ($0.47) earnings per share. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued 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 of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

Several analysts recently commented on GEV shares. Jefferies Financial Group upped their target price on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Robert W. Baird boosted their price target on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective on the stock. Susquehanna reiterated a "positive" rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Guggenheim restated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Six research 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 stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $374.62.

GE Vernova Company 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.