Reaves W H & Co. Inc. Makes New $6.11 Million Investment in GE Vernova Inc. (NYSE:GEV)

Key Points

• Reaves W H & Co. Inc. has invested approximately $6.11 million in GE Vernova Inc. by acquiring 20,000 shares, as reported in a recent SEC filing.
• GE Vernova announced a quarterly dividend of $0.25 per share, which will be paid on August 18th, representing an annualized yield of 0.2%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for GE Vernova, with various analysts raising their price targets significantly, the highest being $736.00.

Reaves W H & Co. Inc. bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the company's stock, valued at approximately $6,106,000.

Other large investors have also modified their holdings of the company. Navigoe LLC purchased a new stake in GE Vernova in the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the 1st quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the 1st quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the 4th quarter valued at approximately $28,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at approximately $30,000.

GE Vernova Price Performance

GEV traded up $2.88 on Friday, reaching $648.74. The company's stock had a trading volume of 1,239,886 shares, compared to its average volume of 3,615,093. The stock has a market cap of $176.60 billion, a price-to-earnings ratio of 156.32, a price-to-earnings-growth ratio of 4.59 and a beta of 1.90. GE Vernova Inc. has a 1 year low of $172.60 and a 1 year high of $677.29. The business's 50 day moving average is $544.98 and its 200 day moving average is $422.95.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.65 earnings per share. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEV. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research report on Monday, July 28th. UBS Group initiated coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 target price on the stock. Barclays increased their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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.