Griffin Asset Management Inc. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,424 shares of the company's stock after buying an additional 1,319 shares during the period. Griffin Asset Management Inc.'s holdings in GE Vernova were worth $3,182,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BNC Wealth Management LLC raised its position in shares of GE Vernova by 661.1% during the first quarter. BNC Wealth Management LLC now owns 7,192 shares of the company's stock worth $2,196,000 after purchasing an additional 6,247 shares during the period. BigSur Wealth Management LLC grew its stake in GE Vernova by 96.6% in the 1st quarter. BigSur Wealth Management LLC now owns 7,003 shares of the company's stock valued at $2,138,000 after purchasing an additional 3,441 shares during the period. New England Research & Management Inc. grew its stake in GE Vernova by 549.0% in the 1st quarter. New England Research & Management Inc. now owns 4,705 shares of the company's stock valued at $1,436,000 after purchasing an additional 3,980 shares during the period. Everhart Financial Group Inc. grew its stake in GE Vernova by 1.9% in the 1st quarter. Everhart Financial Group Inc. now owns 3,779 shares of the company's stock valued at $1,154,000 after purchasing an additional 69 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of GE Vernova by 35.4% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 976 shares of the company's stock worth $298,000 after acquiring an additional 255 shares during the period.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on GEV. TD Cowen cut their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and raised their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $404.56.
Check Out Our Latest Analysis on GE Vernova
GE Vernova Price Performance
GE Vernova stock traded down $9.74 during trading hours on Friday, reaching $477.93. The company had a trading volume of 2,432,081 shares, compared to its average volume of 3,280,691. The company has a 50-day moving average price of $408.13 and a 200 day moving average price of $365.41. The firm has a market cap of $130.44 billion, a price-to-earnings ratio of 85.96, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) EPS. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.
About GE Vernova
(
Free Report)
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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