Dearborn Partners LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Key Points

• Dearborn Partners LLC acquired 1,177 shares of GE Vernova Inc. valued at approximately $359,000 in Q1, indicating growing institutional interest in the company.
• GE Vernova reported a quarterly earnings per share of $1.86, surpassing estimates, and revenue increased by 11.1% year-over-year to $9.11 billion.
• The company announced a quarterly dividend of $0.25, reflecting a dividend yield of 0.15% and a payout ratio of 24.10%.

Dearborn Partners LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,177 shares of the company's stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Capital International Investors grew its stake in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. GAMMA Investing LLC boosted its holdings in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after buying an additional 1,238,690 shares during the period. FMR LLC increased its holdings in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after buying an additional 799,388 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV stock traded down $7.38 during trading hours on Friday, hitting $652.91. The company had a trading volume of 746,192 shares, compared to its average volume of 3,653,724. The stock has a market capitalization of $177.74 billion, a PE ratio of 156.94, a price-to-earnings-growth ratio of 4.53 and a beta of 1.86. The company's fifty day moving average is $526.57 and its 200 day moving average is $413.87. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly 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 company 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 earned $4.65 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GEV shares. Wells Fargo & Company increased their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Barclays lifted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

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.