Pallas Capital Advisors LLC Raises Position in GE Vernova Inc. (NYSE:GEV)

Pallas Capital Advisors LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 161.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,987 shares of the company's stock after buying an additional 3,082 shares during the quarter. Pallas Capital Advisors LLC's holdings in GE Vernova were worth $1,522,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter worth $25,000. Fairway Wealth LLC raised its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in GE Vernova during the 4th quarter valued at about $28,000.

GE Vernova Trading Up 2.7%

Shares of GE Vernova stock traded up $12.70 during trading on Wednesday, reaching $478.01. The company's stock had a trading volume of 914,671 shares, compared to its average volume of 3,277,785. The company has a 50-day moving average price of $396.05 and a two-hundred day moving average price of $362.54. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The firm has a market cap of $130.46 billion, a PE ratio of 86.05, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company 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 business posted ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. Guggenheim restated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Baird R W upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $395.98.

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.