Amalgamated Bank Purchases 652 Shares of GE Vernova Inc. (NYSE:GEV)

Amalgamated Bank grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,319 shares of the company's stock after acquiring an additional 652 shares during the quarter. Amalgamated Bank's holdings in GE Vernova were worth $16,583,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in GE Vernova by 79.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after purchasing an additional 98,034 shares during the last quarter. Grandview Asset Management LLC boosted its stake in shares of GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after buying an additional 705 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after buying an additional 542 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of GE Vernova by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company's stock valued at $9,872,000 after acquiring an additional 910 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in shares of GE Vernova by 21.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company's stock valued at $743,000 after acquiring an additional 427 shares during the last quarter.

GE Vernova Price Performance

GEV stock opened at $529.93 on Tuesday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59. The stock has a market capitalization of $144.63 billion, a price-to-earnings ratio of 76.36, a PEG ratio of 4.03 and a beta of 1.97. The business's fifty day moving average price is $448.23 and its two-hundred day moving average price is $378.45.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business 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 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Barclays raised their target price on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and increased their price target for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, BMO Capital Markets lifted their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $429.13.

GE Vernova 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.