Retireful LLC Buys Shares of 3,455 GE Vernova Inc. (NYSE:GEV)

Retireful LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,455 shares of the company's stock, valued at approximately $1,047,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Norges Bank bought a new position in shares of GE Vernova during the 4th quarter valued at about $1,109,720,000. Capital International Investors lifted its position in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC boosted its stake in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, FMR LLC increased its stake in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GEV shares. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and increased their target price for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. BMO Capital Markets upped their price target on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Barclays increased their price objective on shares of GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Citigroup reduced their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $385.78.

GE Vernova Trading Up 0.6%

Shares of GEV traded up $2.75 during mid-day trading on Friday, hitting $487.06. The company's stock had a trading volume of 2,099,918 shares, compared to its average volume of 3,305,778. The company's 50-day moving average is $386.29 and its 200-day moving average is $359.63. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for 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 for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. As a group, sell-side analysts predict 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 was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova's dividend payout ratio 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.