Oppenheimer & Co. Inc. Buys 14,165 Shares of GE Vernova Inc. (NYSE:GEV)

Oppenheimer & Co. Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 168.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,563 shares of the company's stock after buying an additional 14,165 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in GE Vernova were worth $6,888,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MRP Capital Investments LLC bought a new stake in GE Vernova in the fourth quarter valued at about $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova in the fourth quarter valued at $28,000. Finally, Orion Capital Management LLC bought a new stake in GE Vernova in the fourth quarter valued at $30,000.

GE Vernova Price Performance

Shares of NYSE GEV traded down $7.85 during midday trading on Wednesday, reaching $502.99. 2,474,448 shares of the stock were exchanged, compared to its average volume of 3,266,763. The business has a 50-day simple moving average of $436.25 and a two-hundred day simple moving average of $374.00. The company has a market capitalization of $137.28 billion, a price-to-earnings ratio of 72.48, a P/E/G ratio of 3.97 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $522.97.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued 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 is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEV shares. Susquehanna reiterated a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group increased their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Eight 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 has a consensus rating of "Moderate Buy" and a consensus target price of $429.13.

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.