Entropy Technologies LP Grows Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Entropy Technologies LP increased its stake in GE Vernova Inc. by 4.6%, owning 15,779 shares valued at approximately $4.82 million as of the latest SEC filing.
• GE Vernova reported a quarterly earnings per share of $1.86, surpassing analyst expectations of $1.63, with a year-over-year revenue increase of 11.1%.
• The company announced a quarterly dividend of $0.25 per share, with a 0.2% annualized yield, scheduled for payment on August 18th.

Entropy Technologies LP raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,779 shares of the company's stock after buying an additional 689 shares during the quarter. Entropy Technologies LP's holdings in GE Vernova were worth $4,817,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GEV. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter worth $28,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth $30,000.

GE Vernova Stock Performance

Shares of GEV opened at $648.94 on Friday. The stock has a market capitalization of $176.65 billion, a PE ratio of 156.37, a P/E/G ratio of 4.49 and a beta of 1.90. GE Vernova Inc. has a 1 year low of $172.60 and a 1 year high of $677.29. The company's 50-day simple moving average is $548.53 and its 200-day simple moving average is $424.54.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts predict 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. Investors of record on Monday, July 21st will be paid 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%.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Robert W. Baird upped their price objective 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. Wells Fargo & Company upped their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group upped their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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