GE Vernova Inc. (NYSE:GEV) Holdings Lifted by Dorsey Wright & Associates

Dorsey Wright & Associates raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,433 shares of the company's stock after acquiring an additional 1,769 shares during the period. GE Vernova comprises approximately 1.8% of Dorsey Wright & Associates' investment portfolio, making the stock its 9th largest holding. Dorsey Wright & Associates' holdings in GE Vernova were worth $7,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Navigoe LLC bought a new stake in shares of GE Vernova during the 4th quarter worth $27,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova in the first quarter valued at about $27,000. Clarity Asset Management Inc. purchased a new position in GE Vernova in the fourth quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Analysts Set New Price Targets

Several research firms recently commented on GEV. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. TD Cowen dropped their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, 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 report on Thursday. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $528.67.

GE Vernova Trading Down 0.8%

Shares of GEV traded down $5.33 during trading hours on Thursday, reaching $623.70. 3,916,718 shares of the company's stock traded hands, compared to its average volume of 3,119,790. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $633.72. The stock has a market cap of $170.23 billion, a PE ratio of 150.29, a price-to-earnings-growth ratio of 4.70 and a beta of 1.86. The firm's 50 day simple moving average is $506.49 and its 200-day simple moving average is $404.16.

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, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the business posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is currently 14.41%.

About GE Vernova

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.