Highland Capital Management LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,738 shares of the company's stock after selling 1,029 shares during the quarter. Highland Capital Management LLC's holdings in GE Vernova were worth $9,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in GEV. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC raised its stake in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Navigoe LLC bought a new position in shares of GE Vernova in the 4th quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the 4th quarter valued at approximately $28,000. Finally, Orion Capital Management LLC bought a new position in GE Vernova in the 4th quarter worth approximately $30,000.
GE Vernova Trading Up 2.7%
GEV stock traded up $13.75 during trading on Friday, hitting $520.56. The company had a trading volume of 9,147,914 shares, compared to its average volume of 3,290,915. The company has a fifty day moving average price of $443.89 and a two-hundred day moving average price of $376.74. The company has a market cap of $142.08 billion, a P/E ratio of 75.01, a P/E/G ratio of 4.03 and a beta of 1.97. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59.
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, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.47) EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is currently 14.41%.
Analyst Upgrades and Downgrades
Several brokerages have commented on GEV. Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. BMO Capital Markets lifted their price target on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Glj Research began coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Finally, Susquehanna reaffirmed a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $429.13.
Read Our Latest Stock Report on GE Vernova
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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