GE Vernova Inc. (NYSE:GEV) Shares Purchased by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 36.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,755 shares of the company's stock after purchasing an additional 734 shares during the period. Orrstown Financial Services Inc.'s holdings in GE Vernova were worth $841,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. lifted its position in shares of GE Vernova by 29.0% during the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after acquiring an additional 425 shares during the period. New York State Teachers Retirement System lifted its position in shares of GE Vernova by 3.1% during the 4th quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock valued at $79,643,000 after acquiring an additional 7,373 shares during the period. Entropy Technologies LP acquired a new stake in shares of GE Vernova during the 4th quarter valued at approximately $4,964,000. Schear Investment Advisers LLC lifted its position in shares of GE Vernova by 10.4% during the 4th quarter. Schear Investment Advisers LLC now owns 9,399 shares of the company's stock valued at $3,092,000 after acquiring an additional 888 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in shares of GE Vernova by 13.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,932 shares of the company's stock valued at $2,609,000 after acquiring an additional 933 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GEV shares. New Street Research set a $380.00 price target on shares of GE Vernova in a research report on Wednesday, March 5th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. TD Cowen dropped their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. Finally, Citigroup dropped their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $385.78.

GE Vernova Stock Up 0.6%

Shares of GEV opened at $487.06 on Friday. The firm has a market cap of $132.94 billion, a PE ratio of 87.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The company's fifty day moving average is $389.72 and its two-hundred day moving average is $360.77. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The company 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 for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.47) EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

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.

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