Eagle Global Advisors LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 42.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,155 shares of the company's stock after purchasing an additional 11,355 shares during the period. Eagle Global Advisors LLC's holdings in GE Vernova were worth $11,648,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Navigoe LLC purchased a new stake in GE Vernova during the 4th quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in GE Vernova in the first quarter worth $27,000. Orion Capital Management LLC bought a new stake in GE Vernova in the fourth quarter worth $30,000. Finally, EQ Wealth Advisors LLC bought a new stake in GE Vernova in the first quarter worth $27,000.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GEV. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and raised their price target for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Citigroup lifted their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Glj Research began coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Ten investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $560.21.
Get Our Latest Analysis on GE Vernova
GE Vernova Price Performance
NYSE:GEV traded down $22.65 during trading hours on Wednesday, reaching $634.79. The company had a trading volume of 3,933,173 shares, compared to its average volume of 3,597,395. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29. The firm has a market cap of $172.81 billion, a PE ratio of 152.96, a price-to-earnings-growth ratio of 4.50 and a beta of 1.90. The business's 50 day moving average price is $555.12 and its 200-day moving average price is $427.68.
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 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 firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 24.10%.
About GE Vernova
(
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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