Mendel Money Management Invests $2.54 Million in GE Vernova Inc. (NYSE:GEV)

Mendel Money Management bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,326 shares of the company's stock, valued at approximately $2,542,000. GE Vernova accounts for about 1.2% of Mendel Money Management's portfolio, making the stock its 27th largest position.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in GE Vernova by 79.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after buying an additional 98,034 shares in the last quarter. Grandview Asset Management LLC increased its stake in GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after acquiring an additional 705 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in GE Vernova in the 1st quarter valued at $328,000. Finally, GAMMA Investing LLC grew its stake in GE Vernova by 8.4% during the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after buying an additional 542 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEV shares. Susquehanna upped their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday. Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday. Robert W. Baird upped their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $555.43.

GE Vernova Trading Up 3.3%

Shares of GEV stock traded up $20.63 during trading hours on Friday, hitting $644.60. 3,598,352 shares of the company were exchanged, compared to its average volume of 3,205,434. The stock has a market capitalization of $175.47 billion, a price-to-earnings ratio of 155.33, a P/E/G ratio of 4.81 and a beta of 1.86. The firm has a fifty day simple moving average of $510.80 and a 200 day simple moving average of $406.35. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $651.22.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

GE Vernova 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.