GE Vernova Inc. (NYSE:GEV) Shares Purchased by New England Research & Management Inc.

New England Research & Management Inc. lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 549.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,705 shares of the company's stock after acquiring an additional 3,980 shares during the period. New England Research & Management Inc.'s holdings in GE Vernova were worth $1,436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the 4th quarter worth $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of GE Vernova in the fourth quarter worth $30,000.

GE Vernova Stock Down 2.0%

Shares of GE Vernova stock traded down $9.74 on Friday, reaching $477.93. The company's stock had a trading volume of 2,432,081 shares, compared to its average volume of 3,281,303. The company has a market capitalization of $130.44 billion, a P/E ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72. The stock has a 50-day moving average price of $408.13 and a 200-day moving average price of $365.62.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) earnings per share. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GEV shares. Barclays lifted their target price on GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. BMO Capital Markets boosted their price objective on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and boosted their price objective for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $404.56.

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.