GE Vernova Inc. (NYSE:GEV) Stake Lifted by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,991 shares of the company's stock after buying an additional 2,804 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in GE Vernova were worth $7,019,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in shares of 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 purchasing an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after acquiring an additional 98,034 shares in the last quarter. Grandview Asset Management LLC raised its holdings in GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after acquiring an additional 705 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova in the first quarter valued at approximately $328,000. Finally, GAMMA Investing LLC raised its holdings in GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after acquiring an additional 542 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GEV shares. Barclays raised their target price on shares of GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Robert W. Baird raised their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Citigroup restated a "neutral" rating and set a $544.00 target price (up from $354.00) on shares of GE Vernova in a research report on Monday, July 14th. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $468.88.

GE Vernova Trading Up 0.9%

GEV traded up $4.85 during midday trading on Friday, hitting $575.02. The company's stock had a trading volume of 2,051,713 shares, compared to its average volume of 3,299,435. The firm has a market cap of $156.94 billion, a P/E ratio of 82.86, a PEG ratio of 4.33 and a beta of 1.86. The firm has a 50-day moving average price of $493.30 and a two-hundred day moving average price of $397.90. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $581.27.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is 14.41%.

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.