Hanson & Doremus Investment Management Acquires 654 Shares of GE Vernova Inc. (NYSE:GEV)

Hanson & Doremus Investment Management raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 98.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,320 shares of the company's stock after acquiring an additional 654 shares during the quarter. Hanson & Doremus Investment Management's holdings in GE Vernova were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GEV. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter valued at about $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Navigoe LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth about $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of GE Vernova in the fourth quarter worth about $30,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $487.69 on Tuesday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72. The business has a 50 day simple moving average of $412.15 and a two-hundred day simple moving average of $366.91. The firm has a market capitalization of $133.11 billion, a PE ratio of 87.71, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) earnings per share. Equities research analysts expect 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. Investors 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 payout ratio is 14.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Susquehanna reaffirmed a "positive" rating and issued a $499.00 target price (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Finally, Citigroup reduced their target price on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $404.56.

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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