NorthCrest Asset Manangement LLC Takes $237,000 Position in GE Vernova Inc. (NYSE:GEV)

NorthCrest Asset Manangement LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 721 shares of the company's stock, valued at approximately $237,000.

Several other large investors have also recently added to or reduced their stakes in GEV. Brighton Jones LLC increased its holdings in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of GE Vernova by 6.5% in the fourth quarter. SteelPeak Wealth LLC now owns 1,671 shares of the company's stock valued at $550,000 after buying an additional 102 shares during the period. Robeco Institutional Asset Management B.V. grew its position in GE Vernova by 7.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 82,880 shares of the company's stock worth $27,262,000 after buying an additional 6,048 shares in the last quarter. Strategic Blueprint LLC increased its stake in GE Vernova by 17.8% during the 4th quarter. Strategic Blueprint LLC now owns 1,166 shares of the company's stock worth $384,000 after acquiring an additional 176 shares during the period. Finally, Milestone Asset Management LLC acquired a new position in GE Vernova in the 4th quarter valued at $249,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GEV shares. JPMorgan Chase & Co. upped their target price on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. TD Cowen cut their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Barclays boosted their target price on shares of GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Robert W. Baird upped their price target on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $385.78.

GE Vernova Stock Up 2.6%

Shares of GEV stock traded up $12.44 during mid-day trading on Monday, reaching $485.42. 2,512,110 shares of the stock traded hands, compared to its average volume of 3,344,967. The company has a market cap of $132.49 billion and a price-to-earnings ratio of 87.31. The stock's fifty day simple moving average is $371.84 and its two-hundred day simple moving average is $355.59. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $489.13.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova's dividend payout ratio (DPR) is presently 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.