Rhumbline Advisers Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Rhumbline Advisers boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,232 shares of the company's stock after buying an additional 18,369 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of GE Vernova worth $148,132,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GEV. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter valued at about $25,000. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the period. Navigoe LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $27,000. Finally, Clarity Asset Management Inc. bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $28,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. Robert W. Baird upped their target price 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. Truist Financial set a $440.00 target price on shares of GE Vernova in a report on Thursday, March 27th. Barclays upped their target price on shares of GE Vernova from $427.00 to $500.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Finally, Royal Bank of Canada dropped their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Stock Down 0.8%

GEV traded down $3.98 during trading on Thursday, reaching $484.15. The company had a trading volume of 2,442,463 shares, compared to its average volume of 3,310,610. The stock has a market cap of $132.14 billion, a P/E ratio of 87.08, a PEG ratio of 3.03 and a beta of 1.97. The business has a 50 day simple moving average of $386.29 and a 200-day simple moving average of $359.63. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm 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 business's revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

GE Vernova 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.