Gateway Investment Advisers LLC Increases Position in GE Vernova Inc. (NYSE:GEV)

Gateway Investment Advisers LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 181.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,710 shares of the company's stock after acquiring an additional 30,135 shares during the quarter. Gateway Investment Advisers LLC's holdings in GE Vernova were worth $14,260,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GEV. WASHINGTON TRUST Co raised its position in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after purchasing an additional 31 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in GE Vernova by 1.0% during the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock worth $1,042,000 after buying an additional 31 shares in the last quarter. Fulcrum Equity Management boosted its stake in shares of GE Vernova by 3.6% during the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after acquiring an additional 31 shares in the last quarter. Rothschild Investment LLC boosted its position in GE Vernova by 1.7% during the first quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock worth $600,000 after purchasing an additional 33 shares in the last quarter. Finally, Johnson & White Wealth Management LLC grew its stake in GE Vernova by 3.7% in the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company's stock valued at $284,000 after acquiring an additional 33 shares during the period.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Barclays raised their price target on shares of GE Vernova from $427.00 to $500.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Guggenheim restated a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Morgan Stanley reissued an "overweight" rating and set a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $385.78.

GE Vernova Trading Up 0.6%

Shares of GEV opened at $487.06 on Friday. The firm has a market cap of $132.94 billion, a PE ratio of 87.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $500.72. The company's 50 day simple moving average is $389.72 and its 200-day simple moving average is $360.64.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm earned ($0.47) EPS. The company's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. 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.

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