Grandview Asset Management LLC Buys 705 Shares of GE Vernova Inc. (NYSE:GEV)

Grandview Asset Management LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 48.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,149 shares of the company's stock after purchasing an additional 705 shares during the quarter. Grandview Asset Management LLC's holdings in GE Vernova were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Capital International Investors lifted its stake in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC lifted its stake in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the period. Norges Bank purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $1,109,720,000. Finally, Northern Trust Corp grew its stake in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Guggenheim reissued a "buy" rating and set a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Barclays raised their price target on GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Finally, BMO Capital Markets increased their target price on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $404.56.

GE Vernova Price Performance

GEV stock opened at $488.99 on Wednesday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72. The firm's 50-day moving average is $415.39 and its 200 day moving average is $367.75. The company has a market capitalization of $133.46 billion, a PE ratio of 70.46, a P/E/G ratio of 3.79 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) EPS. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

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.

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