Mystic Asset Management Inc. Has $715,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Mystic Asset Management Inc. grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 99.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,342 shares of the company's stock after buying an additional 1,165 shares during the quarter. Mystic Asset Management Inc.'s holdings in GE Vernova were worth $715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $25,000. Navigoe LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $28,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GEV. Susquehanna reaffirmed a "positive" rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Barclays raised their price objective on shares of GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Robert W. Baird lifted their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $468.88.

GE Vernova Price Performance

NYSE:GEV traded up $4.85 during trading hours on Friday, reaching $575.02. 2,051,713 shares of the stock were exchanged, compared to its average volume of 3,299,435. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $581.27. The firm has a 50 day moving average of $493.30 and a 200 day moving average of $397.90. The stock has a market cap of $156.94 billion, a PE ratio of 82.86, a PEG ratio of 4.33 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 analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. The business's revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio 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.