Fortem Financial Group LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

Fortem Financial Group LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 147.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,168 shares of the company's stock after purchasing an additional 1,291 shares during the period. Fortem Financial Group LLC's holdings in GE Vernova were worth $662,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $25,000. Navigoe LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the fourth quarter valued at approximately $28,000. Orion Capital Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000.

GE Vernova Stock Performance

GEV stock opened at $538.95 on Friday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $546.65. The firm has a market cap of $147.10 billion, a P/E ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. The stock has a 50-day simple moving average of $476.87 and a 200-day simple moving average of $389.56.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm earned ($0.47) EPS. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEV. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Barclays boosted their target price on GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a report on Wednesday. UBS Group began coverage on GE Vernova in a report on Monday. They issued a "buy" rating and a $614.00 target price on the stock. BMO Capital Markets upped their price objective on GE Vernova from $522.00 to $590.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Morgan Stanley upped their price objective on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $451.38.

GE Vernova 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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