Main Street Research LLC Invests $13.60 Million in GE Vernova Inc. (NYSE:GEV)

Main Street Research LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 44,533 shares of the company's stock, valued at approximately $13,595,000.

Other hedge funds have also made changes to their positions in the company. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $25,000. Fairway Wealth LLC boosted its stake in shares of 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 acquiring an additional 55 shares in the last quarter. Navigoe LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $28,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GEV shares. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday. Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley upped their target price on shares of GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a report on Tuesday, June 24th. Royal Bank Of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Finally, Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $451.38.

GE Vernova Trading Down 0.1%

GEV stock traded down $0.41 during midday trading on Friday, hitting $538.95. 2,285,780 shares of the company's stock were exchanged, compared to its average volume of 3,318,687. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $546.36. The firm has a 50 day moving average price of $474.02 and a 200-day moving average price of $388.24. The stock has a market capitalization of $147.10 billion, a price-to-earnings ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business posted ($0.47) earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts forecast 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 will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 14.41%.

GE Vernova Company Profile

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.