Crossmark Global Holdings Inc. Buys 1,252 Shares of GE Vernova Inc. $GEV

Key Points

• Crossmark Global Holdings increased its stake in GE Vernova by 9.4% in the fourth quarter, buying 1,252 additional shares and bringing its total holdings to 14,629 shares valued at about $9.56 million.
• Wall Street sentiment is bullish on GEV, with multiple firms raising price targets; the consensus rating is Moderate Buy and the average target is $1,090.76.
• GE Vernova posted a strong quarter, reporting EPS of $17.44 versus estimates of $1.95 and revenue of $9.34 billion, while also declaring a quarterly dividend of $0.50 per share.

Crossmark Global Holdings Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,629 shares of the company's stock after purchasing an additional 1,252 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in GE Vernova were worth $9,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. RFG Advisory LLC boosted its position in shares of GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company's stock valued at $414,000 after acquiring an additional 13 shares during the period. Voisard Asset Management Group Inc. boosted its position in shares of GE Vernova by 2.7% in the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock valued at $376,000 after acquiring an additional 15 shares during the period. Clean Yield Group boosted its position in shares of GE Vernova by 2.2% in the fourth quarter. Clean Yield Group now owns 685 shares of the company's stock valued at $448,000 after acquiring an additional 15 shares during the period. Sutton Place Investors LLC boosted its position in shares of GE Vernova by 3.1% in the fourth quarter. Sutton Place Investors LLC now owns 531 shares of the company's stock valued at $347,000 after acquiring an additional 16 shares during the period. Finally, Washburn Capital Management Inc. boosted its position in shares of GE Vernova by 0.3% in the fourth quarter. Washburn Capital Management Inc. now owns 4,735 shares of the company's stock valued at $3,095,000 after acquiring an additional 16 shares during the period.

Analysts Set New Price Targets

A number of research firms recently commented on GEV. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Weiss Ratings raised GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. BMO Capital Markets boosted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Guggenheim boosted their price target on GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group boosted their price target on GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,090.76.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,040.75 on Friday. The business's 50 day simple moving average is $933.83 and its 200 day simple moving average is $755.75. GE Vernova Inc. has a one year low of $387.03 and a one year high of $1,181.95. The stock has a market capitalization of $279.67 billion, a PE ratio of 30.32, a PEG ratio of 3.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the prior year, the business earned $0.91 EPS. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 17th. GE Vernova's dividend payout ratio is presently 5.83%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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