Diversified Trust Co reduced its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 10.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,550 shares of the company's stock after selling 1,529 shares during the quarter. Diversified Trust Co's holdings in GE Vernova were worth $4,137,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. MRP Capital Investments LLC purchased a new position in GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the period. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $30,000.
GE Vernova Stock Performance
GEV stock traded up $13.75 during trading on Friday, hitting $520.56. The stock had a trading volume of 9,147,914 shares, compared to its average volume of 3,289,887. The stock has a market cap of $142.08 billion, a price-to-earnings ratio of 75.01, a price-to-earnings-growth ratio of 3.90 and a beta of 1.97. The company's 50 day moving average price is $439.93 and its two-hundred day moving average price is $375.18. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $532.52.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.
Analysts Set New Price Targets
A number of research firms recently commented on GEV. Glj Research started coverage on shares of GE Vernova in a report on Monday. They set a "buy" rating on the stock. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Bank of America boosted their price target on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Truist Financial set a $440.00 price objective on GE Vernova in a research note on Thursday, March 27th. Finally, New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $429.13.
Get Our Latest Stock Report on GE Vernova
GE Vernova Profile
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Free Report)
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.
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