Carnegie Investment Counsel Grows Position in GE Vernova Inc. (NYSE:GEV)

Carnegie Investment Counsel grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,060 shares of the company's stock after buying an additional 15,383 shares during the period. Carnegie Investment Counsel's holdings in GE Vernova were worth $9,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter worth about $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter worth about $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter worth about $28,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova during the fourth quarter worth about $30,000.

GE Vernova Trading Up 3.3%

GEV traded up $20.63 during trading on Friday, reaching $644.60. The stock had a trading volume of 3,598,352 shares, compared to its average volume of 3,205,434. GE Vernova Inc. has a one year low of $150.01 and a one year high of $651.22. The company has a market capitalization of $175.47 billion, a price-to-earnings ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. The stock's 50 day moving average is $510.80 and its two-hundred day moving average is $406.08.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the firm posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

Several brokerages have recently commented on GEV. UBS Group began coverage on GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group boosted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Susquehanna upped their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $540.96.

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.