GE Vernova Inc. (NYSE:GEV) Shares Bought by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 41.8%, now holding 6,426 shares valued at approximately $1.96 million.
• GE Vernova's stock received mixed ratings from analysts, with price targets ranging from $390.00 to $736.00, indicating a consensus rating of "Moderate Buy."
• The company reported earnings of $1.86 per share, exceeding expectations, and also announced a quarterly dividend of $0.25 per share.

Frank Rimerman Advisors LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,426 shares of the company's stock after acquiring an additional 1,893 shares during the period. Frank Rimerman Advisors LLC's holdings in GE Vernova were worth $1,962,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Capital International Investors grew its holdings in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after acquiring an additional 214,483 shares in the last quarter. Northern Trust Corp grew its holdings in GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEV. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a report on Monday, July 28th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Ten 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 company's stock. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Stock Up 0.5%

Shares of NYSE:GEV opened at $648.94 on Friday. The company has a market cap of $176.65 billion, a PE ratio of 156.37, a P/E/G ratio of 4.46 and a beta of 1.90. The company's 50-day moving average price is $548.53 and its 200 day moving average price is $424.55. GE Vernova Inc. has a fifty-two week low of $172.60 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the firm posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.