Persistent Asset Partners Ltd Buys New Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• Persistent Asset Partners Ltd has made a new investment in GE Vernova Inc., purchasing 1,000 shares valued at approximately $305,000 in the first quarter.
• Several analysts have increased their price targets for GE Vernova, with Morgan Stanley raising it to $675.00 and Bank of America to $620.00, while a consensus rating stands at "Moderate Buy."
• GE Vernova's recent earnings report exceeded expectations, with an EPS of $1.86 and revenue of $9.11 billion, marking an 11.1% increase from the previous year.

Persistent Asset Partners Ltd purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,000 shares of the company's stock, valued at approximately $305,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Westover Capital Advisors LLC boosted its holdings in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after acquiring an additional 25 shares during the period. Stonebridge Financial Group LLC increased its holdings in shares of GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after buying an additional 30 shares during the period. Hemington Wealth Management increased its holdings in shares of GE Vernova by 20.3% in the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after buying an additional 30 shares during the period. Finally, Fulcrum Equity Management increased its holdings in shares of GE Vernova by 3.6% in the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after buying an additional 31 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley lifted their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a report on Monday, July 28th. Ten investment 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $650.75 on Tuesday. The firm has a fifty day moving average price of $551.84 and a 200 day moving average price of $426.07. GE Vernova Inc. has a 1 year low of $173.07 and a 1 year high of $677.29. The stock has a market cap of $177.15 billion, a PE ratio of 156.81, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

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.

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