1,153 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Davis R M Inc.

Key Points

• Davis R M Inc. has invested $352,000 in GE Vernova Inc. by purchasing 1,153 shares in the first quarter, according to their SEC filing.
• During the same period, other significant investors, including Golden State Wealth Management and Wealth Enhancement Advisory Services, also increased their stakes in GE Vernova, highlighting growing interest in the company.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, representing a 0.2% dividend yield, with a payout ratio of 24.10%.

Davis R M Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,153 shares of the company's stock, valued at approximately $352,000.

Several other hedge funds also recently modified their holdings of the company. Natixis Advisors LLC increased its holdings in shares of GE Vernova by 0.9% during the first quarter. Natixis Advisors LLC now owns 227,446 shares of the company's stock worth $69,435,000 after buying an additional 2,055 shares in the last quarter. NorthRock Partners LLC increased its holdings in shares of GE Vernova by 1.8% in the first quarter. NorthRock Partners LLC now owns 4,274 shares of the company's stock valued at $1,305,000 after purchasing an additional 74 shares in the last quarter. Tower Bridge Advisors increased its holdings in shares of GE Vernova by 11.5% in the first quarter. Tower Bridge Advisors now owns 727 shares of the company's stock valued at $222,000 after purchasing an additional 75 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $426,000. Finally, Wellington Shields & Co. LLC increased its holdings in shares of GE Vernova by 18.8% in the first quarter. Wellington Shields & Co. LLC now owns 2,033 shares of the company's stock valued at $621,000 after purchasing an additional 321 shares in the last quarter.

GE Vernova Price Performance

GE Vernova stock traded down $3.63 during trading hours on Friday, hitting $656.66. The company had a trading volume of 3,074,814 shares, compared to its average volume of 2,826,011. The firm has a 50-day moving average of $530.40 and a 200 day moving average of $415.77. 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 PE ratio of 158.23, a PEG ratio of 4.56 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $8.78 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The business's revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 24.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen raised their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Robert W. Baird raised their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Glj Research assumed coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday. Finally, BMO Capital Markets raised their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average price target 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.