Sit Investment Associates Inc. Invests $1.63 Million in GE Vernova Inc. (NYSE:GEV)

Sit Investment Associates Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,345 shares of the company's stock, valued at approximately $1,632,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the period. Capital International Investors raised its position in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Goldman Sachs Group Inc. raised its position in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after purchasing an additional 214,483 shares during the period. Northern Trust Corp raised its position in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GEV shares. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. The Goldman Sachs Group raised their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley raised their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets raised their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Glj Research started coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Down 0.7%

GEV opened at $621.20 on Friday. The firm has a market cap of $169.10 billion, a PE ratio of 149.69, a P/E/G ratio of 4.32 and a beta of 1.90. The business has a fifty day simple moving average of $563.55 and a 200-day simple moving average of $432.98. GE Vernova Inc. has a fifty-two week low of $173.07 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $4.65 EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.

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