Kornitzer Capital Management Inc. KS Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Kornitzer Capital Management Inc. KS boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 88.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,048 shares of the company's stock after buying an additional 7,978 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in GE Vernova were worth $5,204,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $25,000. Navigoe LLC bought a new position in GE Vernova in the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova in the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova in the 4th quarter worth approximately $28,000. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova in the 4th quarter worth approximately $30,000.

GE Vernova Trading Up 1.2%

NYSE:GEV traded up $6.94 during midday trading on Friday, hitting $577.11. 708,107 shares of the company traded hands, compared to its average volume of 3,297,166. The firm's fifty day moving average is $489.76 and its 200-day moving average is $395.72. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $581.27. The firm has a market capitalization of $157.51 billion, a P/E ratio of 83.01, a P/E/G ratio of 4.18 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released 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. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm posted ($0.47) earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.17%. GE Vernova's payout ratio is 14.41%.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and upped their price target for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Robert W. Baird upped 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. The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $468.88.

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.