GE Vernova Inc. (NYSE:GEV) Shares Purchased by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. increased its stake in GE Vernova Inc. by 23.6%, owning 3,100 shares worth approximately $946,000 after purchasing an additional 592 shares in the first quarter.
• GE Vernova announced a quarterly dividend of $0.25 per share, with a payout ratio of 24.10%, scheduled for payment on August 18th.
• Despite recent upgrades from analysts, GE Vernova's stock is currently down 0.5%, with a consensus rating classified as a "Moderate Buy" and a target price around $560.21.

Harbour Investments Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the company's stock after acquiring an additional 592 shares during the period. Harbour Investments Inc.'s holdings in GE Vernova were worth $946,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova during the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the first quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in GE Vernova in the first quarter worth $27,000.

GE Vernova Price Performance

NYSE:GEV traded down $3.63 during trading hours on Friday, reaching $656.66. The company had a trading volume of 3,074,814 shares, compared to its average volume of 2,979,880. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $677.29. The business's 50 day moving average price is $530.40 and its 200-day moving average price is $416.15. The firm has a market cap of $178.76 billion, a PE ratio of 158.23, a price-to-earnings-growth ratio of 4.54 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is presently 24.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. BMO Capital Markets raised their price objective on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Bank of America lifted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

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.