Capital Management Associates NY Invests $550,000 in GE Vernova Inc. (NYSE:GEV)

Key Points

• Capital Management Associates NY invested $550,000 in GE Vernova Inc. by acquiring 1,800 shares in the first quarter, as reported in the latest SEC filing.
• Several institutional investors, including Capital International Investors and GAMMA Investing LLC, significantly increased their holdings in GE Vernova, suggesting growing confidence in the company's performance.
• GE Vernova recently reported strong quarterly earnings, with an EPS of $1.86 and revenue of $9.11 billion, surpassing analysts' estimates and reflecting an 11.1% year-over-year growth.

Capital Management Associates NY bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the company's stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its holdings in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after acquiring an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position 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 buying an additional 98,034 shares in the last quarter. Grandview Asset Management LLC grew its position in GE Vernova by 48.8% during the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after buying an additional 705 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of GE Vernova in the 1st quarter valued at $328,000. Finally, GAMMA Investing LLC boosted its holdings in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after purchasing an additional 542 shares in the last quarter.

GE Vernova Trading Down 0.5%

Shares of NYSE:GEV traded down $3.63 during mid-day trading on Friday, reaching $656.66. The company had a trading volume of 3,074,814 shares, compared to its average volume of 3,673,196. The company's 50-day moving average price is $526.57 and its 200-day moving average price is $413.87. GE Vernova Inc. has a one year low of $150.01 and a one year high of $677.29. The firm has a market cap of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.53 and a beta of 1.86.

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

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research note on Monday. UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Morgan Stanley increased their price target on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group increased their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

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.