Blueshift Asset Management LLC Invests $432,000 in GE Vernova Inc. (NYSE:GEV)

Key Points

• Blueshift Asset Management LLC has invested approximately $432,000 in GE Vernova Inc. by acquiring 1,414 shares during the first quarter of the year.
• Several analysts have raised their price targets for GE Vernova, with Wells Fargo increasing it from $474.00 to $697.00, reflecting a strong growth outlook for the company.
• GE Vernova also announced a quarterly dividend of $0.25 per share, representing a 0.2% dividend yield, set to be paid to shareholders on August 18th.

Blueshift Asset Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,414 shares of the company's stock, valued at approximately $432,000.

A number of other large investors have also recently added to or reduced their stakes in GEV. Commerce Bank increased its position in GE Vernova by 6.9% during the first quarter. Commerce Bank now owns 12,300 shares of the company's stock worth $3,755,000 after buying an additional 790 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of GE Vernova by 0.8% during the first quarter. Moors & Cabot Inc. now owns 5,491 shares of the company's stock valued at $1,676,000 after acquiring an additional 46 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of GE Vernova by 14.5% during the first quarter. Jefferies Financial Group Inc. now owns 80,158 shares of the company's stock valued at $24,471,000 after acquiring an additional 10,139 shares during the last quarter. Howland Capital Management LLC increased its position in GE Vernova by 0.7% during the 1st quarter. Howland Capital Management LLC now owns 15,968 shares of the company's stock worth $4,875,000 after purchasing an additional 106 shares in the last quarter. Finally, US Bancorp DE raised its stake in GE Vernova by 3.5% in the 1st quarter. US Bancorp DE now owns 96,452 shares of the company's stock valued at $29,445,000 after purchasing an additional 3,235 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GEV shares. Wells Fargo & Company raised their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and boosted their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Morgan Stanley increased their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given 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 $560.21.

GE Vernova Price Performance

NYSE:GEV opened at $656.66 on Friday. The business's 50-day moving average is $530.40 and its two-hundred day moving average is $415.77. The firm has a market capitalization of $178.76 billion, a PE ratio of 158.23, a price-to-earnings-growth ratio of 4.56 and a beta of 1.90. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $4.65 EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio 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.

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