Cypress Asset Management Inc. TX Invests $457,000 in GE Vernova Inc. (NYSE:GEV)

Cypress Asset Management Inc. TX purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,390 shares of the company's stock, valued at approximately $457,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at about $25,000. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new position in GE Vernova during the 4th quarter worth $27,000.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Citigroup reduced their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Susquehanna reissued a "positive" rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Royal Bank of Canada dropped their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Finally, CICC Research started coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Trading Down 0.4%

NYSE:GEV traded down $1.85 during trading hours on Friday, reaching $469.32. 2,113,880 shares of the company were exchanged, compared to its average volume of 3,340,136. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $489.13. The stock's 50-day moving average is $369.12 and its 200-day moving average is $354.21. The firm has a market cap of $128.09 billion and a PE ratio of 84.47.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is currently 14.41%.

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.