GF Fund Management CO. LTD. Buys New Stake in GE Vernova Inc. (NYSE:GEV)

GF Fund Management CO. LTD. bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,768 shares of the company's stock, valued at approximately $540,000.

A number of other hedge funds have also made changes to their positions in GEV. MRP Capital Investments LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $25,000. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% in the 4th 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 period. Navigoe LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $30,000.

GE Vernova Price Performance

GEV traded down $0.01 on Tuesday, reaching $530.27. 2,673,987 shares of the company traded hands, compared to its average volume of 3,308,472. The stock's 50 day moving average price is $464.41 and its 200-day moving average price is $384.86. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $544.50. The company has a market cap of $144.73 billion, a price-to-earnings ratio of 76.41, a PEG ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) earnings per share. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is 14.41%.

Analyst Ratings Changes

GEV has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Bank of America boosted their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. BMO Capital Markets boosted their target price on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday. Barclays boosted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Susquehanna restated a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $450.13.

GE Vernova Company 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.