Hardy Reed LLC grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 41.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,605 shares of the company's stock after buying an additional 2,529 shares during the period. Hardy Reed LLC's holdings in GE Vernova were worth $2,627,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stonebridge Financial Group LLC boosted its stake in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after purchasing an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after purchasing an additional 30 shares in the last quarter. Fulcrum Equity Management boosted its stake in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after purchasing an additional 31 shares in the last quarter. Dopkins Wealth Management LLC boosted its stake in shares of GE Vernova by 4.9% in the 1st quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after purchasing an additional 31 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in shares of GE Vernova by 1.7% in the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock valued at $600,000 after purchasing an additional 33 shares in the last quarter.
GE Vernova Stock Up 1.8%
Shares of NYSE GEV traded up $9.83 during trading on Thursday, reaching $571.00. 2,567,637 shares of the company traded hands, compared to its average volume of 3,307,164. The firm has a 50 day simple moving average of $486.23 and a 200-day simple moving average of $394.06. The stock has a market capitalization of $155.84 billion, a PE ratio of 82.28, a P/E/G ratio of 4.18 and a beta of 1.86. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $581.04.
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 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 business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.47) EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is presently 14.41%.
Wall Street Analyst Weigh In
GEV has been the subject of several analyst reports. Bank of America increased their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday. Robert W. Baird increased their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Citigroup reissued a "neutral" rating and set a $544.00 price target (up previously from $354.00) on shares of GE Vernova in a research report on Monday. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Guggenheim reissued a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $468.88.
Read Our Latest Stock Report on GEV
GE Vernova Profile
(
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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