Herbst Group LLC Has $4.22 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Herbst Group LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 71.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,822 shares of the company's stock after acquiring an additional 5,757 shares during the period. GE Vernova makes up about 3.0% of Herbst Group LLC's portfolio, making the stock its 14th largest holding. Herbst Group LLC's holdings in GE Vernova were worth $4,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC increased its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Navigoe LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. acquired a new position in GE Vernova during the 4th quarter worth approximately $28,000.

GE Vernova Price Performance

NYSE GEV traded up $2.75 during mid-day trading on Friday, reaching $487.06. 2,099,918 shares of the stock were exchanged, compared to its average volume of 3,298,007. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72. The stock has a 50 day simple moving average of $386.29 and a 200-day simple moving average of $359.63. The stock has a market cap of $132.94 billion, a P/E ratio of 87.60, a P/E/G ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GEV. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Barclays upped their price objective on shares of GE Vernova from $427.00 to $500.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $422.00 price objective (up from $400.00) 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $385.78.

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.