Northeast Investment Management Purchases 565 Shares of GE Vernova Inc. (NYSE:GEV)

Northeast Investment Management boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 91.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184 shares of the company's stock after buying an additional 565 shares during the period. Northeast Investment Management's holdings in GE Vernova were worth $361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Navigoe LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth about $27,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova in the 4th quarter worth about $28,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. Barclays boosted their price objective on GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday. Royal Bank of Canada cut their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley reissued an "overweight" rating and issued a $422.00 price target (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $395.98.

GE Vernova Stock Performance

GE Vernova stock traded down $9.74 during mid-day trading on Friday, reaching $477.93. The company's stock had a trading volume of 2,432,081 shares, compared to its average volume of 3,281,405. The company has a market capitalization of $130.44 billion, a P/E ratio of 85.96, a PEG 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 firm's fifty day moving average price is $404.31 and its two-hundred day moving average price is $364.45.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a 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%.

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.