Sky Investment Group LLC Raises Stake in GE Vernova Inc. (NYSE:GEV)

Sky Investment Group LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 119.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,926 shares of the company's stock after purchasing an additional 1,050 shares during the period. Sky Investment Group LLC's holdings in GE Vernova were worth $588,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Polianta Ltd acquired a new stake in shares of GE Vernova during the first quarter worth $1,190,000. Davis Investment Partners LLC raised its holdings in shares of GE Vernova by 20.3% during the first quarter. Davis Investment Partners LLC now owns 2,011 shares of the company's stock worth $648,000 after acquiring an additional 340 shares during the period. Sapient Capital LLC raised its holdings in shares of GE Vernova by 0.6% during the first quarter. Sapient Capital LLC now owns 101,290 shares of the company's stock worth $30,922,000 after acquiring an additional 565 shares during the period. Tran Capital Management L.P. acquired a new stake in shares of GE Vernova during the first quarter worth $15,852,000. Finally, GPS Wealth Strategies Group LLC increased its stake in GE Vernova by 437.3% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 4,809 shares of the company's stock valued at $1,468,000 after buying an additional 3,914 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have issued reports on GEV. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating on the stock. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. BMO Capital Markets lifted 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. Bank of America lifted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Guggenheim reiterated a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $404.56.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $9.74 during trading on Friday, hitting $477.93. The company's stock had a trading volume of 2,432,081 shares, compared to its average volume of 3,281,303. The company has a fifty day simple moving average of $408.13 and a two-hundred day simple moving average of $365.62. The company has a market capitalization of $130.44 billion, a PE ratio of 85.96, a P/E/G ratio of 3.03 and a beta of 1.97. 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 issued its quarterly 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. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date 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 currently 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.