Pelham Capital Ltd. Grows Stake in GE Vernova Inc. (NYSE:GEV)

Pelham Capital Ltd. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 130.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,730 shares of the company's stock after purchasing an additional 20,778 shares during the period. GE Vernova makes up approximately 5.9% of Pelham Capital Ltd.'s holdings, making the stock its 5th largest position. Pelham Capital Ltd.'s holdings in GE Vernova were worth $11,213,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Arcus Capital Partners LLC acquired a new position in shares of GE Vernova during the 1st quarter worth about $879,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of GE Vernova during the 1st quarter valued at about $89,000. Sharpepoint LLC boosted its position in shares of GE Vernova by 8.8% during the 1st quarter. Sharpepoint LLC now owns 9,088 shares of the company's stock valued at $2,774,000 after acquiring an additional 734 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in shares of GE Vernova by 8.6% in the 1st quarter. Leavell Investment Management Inc. now owns 6,892 shares of the company's stock worth $2,104,000 after buying an additional 545 shares in the last quarter. Finally, Main Street Research LLC bought a new position in shares of GE Vernova during the 1st quarter worth approximately $13,595,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Robert W. Baird raised their price target on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Susquehanna reaffirmed a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $451.38.

GE Vernova Stock Performance

GEV stock traded down $0.41 during midday trading on Friday, hitting $538.95. 2,285,780 shares of the company's stock were exchanged, compared to its average volume of 3,325,574. The company has a market cap of $147.10 billion, a PE ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. The stock's fifty day moving average price is $476.87 and its 200-day moving average price is $389.56. GE Vernova Inc. has a one year low of $150.01 and a one year high of $546.65.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's payout ratio is presently 14.41%.

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.