GSA Capital Partners LLP Grows Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• GSA Capital Partners LLP significantly increased its stake in GE Vernova Inc. by 95.4% during the first quarter, now holding 3,491 shares valued at approximately $1,066,000.
• GE Vernova recently reported an earnings per share (EPS) of $1.86 for the quarter, exceeding analysts' expectations of $1.63, along with a revenue of $9.11 billion.
• The company announced a quarterly dividend of $0.25 per share to be paid on August 18th, reflecting an annualized dividend yield of 0.2%.

GSA Capital Partners LLP increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 95.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,491 shares of the company's stock after acquiring an additional 1,704 shares during the quarter. GSA Capital Partners LLP's holdings in GE Vernova were worth $1,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westover Capital Advisors LLC lifted its position in GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares during the last quarter. Stonebridge Financial Group LLC raised its holdings in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after acquiring an additional 30 shares during the last quarter. Fulcrum Equity Management grew its stake in shares of GE Vernova by 3.6% during the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after acquiring an additional 31 shares during the last quarter. Finally, Dopkins Wealth Management LLC boosted its position in GE Vernova by 4.9% in the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after buying an additional 31 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Glj Research began coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Robert W. Baird increased their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Citigroup upped their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. UBS Group assumed coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Finally, Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Down 0.5%

GEV stock traded down $3.63 on Friday, reaching $656.66. 3,074,814 shares of the company's stock were exchanged, compared to its average volume of 2,826,011. The stock has a fifty day moving average of $530.40 and a 200-day moving average of $415.77. The firm has a market cap of $178.76 billion, a PE ratio of 158.23, a P/E/G ratio of 4.56 and a beta of 1.90. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the business earned $4.65 earnings per share. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS 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. Investors 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 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

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.