Hollencrest Capital Management Buys 5,893 Shares of GE Vernova Inc. (NYSE:GEV)

Hollencrest Capital Management lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 276.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,026 shares of the company's stock after purchasing an additional 5,893 shares during the quarter. Hollencrest Capital Management's holdings in GE Vernova were worth $2,450,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in GE Vernova in the fourth quarter valued at $1,109,720,000. Capital International Investors lifted its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after buying an additional 1,238,690 shares during the period. Finally, FMR LLC increased its stake in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Barclays boosted their price target on GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Guggenheim reissued a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price of $468.88.

GE Vernova Stock Up 0.9%

Shares of GEV stock traded up $4.85 during trading hours on Friday, hitting $575.02. 2,051,713 shares of the company's stock traded hands, compared to its average volume of 3,299,435. The stock's 50 day simple moving average is $493.30 and its 200 day simple moving average is $397.90. The stock has a market cap of $156.94 billion, a PE ratio of 82.86, a price-to-earnings-growth ratio of 4.33 and a beta of 1.86. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $581.27.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the company earned ($0.47) earnings per share. The business's revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is 14.41%.

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.