Orrstown Financial Services Inc. Buys 734 Shares of GE Vernova Inc. (NYSE:GEV)

Orrstown Financial Services Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 36.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,755 shares of the company's stock after acquiring an additional 734 shares during the period. Orrstown Financial Services Inc.'s holdings in GE Vernova were worth $841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $25,000. Fairway Wealth LLC boosted its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Navigoe LLC bought 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 valued at about $28,000.

GE Vernova Stock Up 3.7%

GEV traded up $17.43 during midday trading on Wednesday, reaching $482.74. 2,633,153 shares of the company's stock were exchanged, compared to its average volume of 3,286,099. The business has a 50-day simple moving average of $396.05 and a two-hundred day simple moving average of $362.54. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72. The firm has a market capitalization of $131.76 billion, a price-to-earnings ratio of 86.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company posted ($0.47) EPS. The company's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Barclays increased their target price on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Susquehanna reaffirmed a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Bank of America increased their price objective on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $395.98.

GE Vernova 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.