14,384 Shares in GE Vernova Inc. $GEV Bought by Algert Global LLC

Key Points

• Algert Global LLC has invested approximately $4.39 million in GE Vernova Inc., acquiring 14,384 shares during the first quarter.
• Several analysts have recently upgraded their price targets for GE Vernova, with JPMorgan increasing theirs to $715.00 and Barclays to $706.00, reflecting an overall positive outlook on the stock.
• GE Vernova reported earnings per share of $1.86, surpassing analysts' expectations and achieving an 11.1% year-over-year revenue growth with $9.11 billion in revenue for the quarter.

Algert Global LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,384 shares of the company's stock, valued at approximately $4,391,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. American Assets Inc. acquired a new stake in GE Vernova during the 4th quarter worth about $658,000. Guggenheim Capital LLC grew its stake in GE Vernova by 63.5% during the 4th quarter. Guggenheim Capital LLC now owns 6,077 shares of the company's stock valued at $1,999,000 after acquiring an additional 2,361 shares in the last quarter. First Trust Advisors LP grew its stake in GE Vernova by 12.6% during the 4th quarter. First Trust Advisors LP now owns 174,149 shares of the company's stock valued at $57,283,000 after acquiring an additional 19,531 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in GE Vernova during the 4th quarter valued at about $3,546,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Wells Fargo & Company upped their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

Shares of GEV traded up $11.8440 during mid-day trading on Friday, hitting $617.8440. 1,222,755 shares of the company's stock were exchanged, compared to its average volume of 3,547,336. The company has a 50-day simple moving average of $574.01 and a 200 day simple moving average of $439.65. The company has a market cap of $168.19 billion, a PE ratio of 148.83, a P/E/G ratio of 4.18 and a beta of 1.90. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

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.