Mitchell Sinkler & Starr PA Has $926,000 Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Mitchell Sinkler & Starr PA increased its holdings in GE Vernova Inc. by 17.4%, now owning a total of 3,032 shares worth $926,000.
• GE Vernova reported strong earnings of $1.86 per share, exceeding expectations, and reported a revenue of $9.11 billion in the last quarter, a 11.1% increase year-over-year.
• The company declared a $0.25 quarterly dividend set to be paid on August 18th, representing a 0.16% annual yield with a payout ratio of 24.10%.

Mitchell Sinkler & Starr PA grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 17.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,032 shares of the company's stock after purchasing an additional 450 shares during the quarter. Mitchell Sinkler & Starr PA's holdings in GE Vernova were worth $926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC boosted its position 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 last quarter. Oppenheimer Asset Management Inc. acquired a new position in GE Vernova during the 1st quarter worth approximately $328,000. Finally, GAMMA Investing LLC boosted its holdings in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after buying an additional 542 shares during the last quarter.

GE Vernova Stock Up 2.9%

Shares of GEV stock traded up $18.31 on Wednesday, reaching $650.98. 1,627,897 shares of the stock were exchanged, compared to its average volume of 3,671,992. The stock has a market cap of $177.21 billion, a P/E ratio of 157.19, a price-to-earnings-growth ratio of 4.48 and a beta of 1.86. The firm has a 50 day moving average of $518.51 and a two-hundred day moving average of $410.15. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $656.17.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.15%. GE Vernova's payout ratio is currently 24.10%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets boosted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday. The Goldman Sachs Group increased their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Susquehanna increased their price target on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

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.