Friedenthal Financial Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Friedenthal Financial increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 990.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,413 shares of the company's stock after buying an additional 3,100 shares during the period. Friedenthal Financial's holdings in GE Vernova were worth $1,042,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors increased its position in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC increased its position in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Norges Bank bought a new stake in shares of GE Vernova in the 4th quarter worth about $1,109,720,000. Finally, Northern Trust Corp increased its position in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Bank of America boosted their target price on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Robert W. Baird boosted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, BMO Capital Markets boosted their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $404.56.

GE Vernova Trading Up 0.3%

Shares of NYSE:GEV opened at $490.12 on Thursday. The company has a 50 day moving average of $418.66 and a 200-day moving average of $368.60. The firm has a market cap of $133.77 billion, a P/E ratio of 70.62, a P/E/G ratio of 3.79 and a beta of 1.97. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is presently 14.41%.

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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