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SouthState Corp Grows Stake in GE Vernova Inc. (NYSE:GEV)

GE Vernova logo with Energy background

SouthState Corp grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 1,055.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416 shares of the company's stock after purchasing an additional 380 shares during the quarter. SouthState Corp's holdings in GE Vernova were worth $127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Westover Capital Advisors LLC lifted its stake in shares of GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares during the period. Stonebridge Financial Group LLC lifted its stake in shares of GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after buying an additional 30 shares during the period. Hemington Wealth Management lifted its stake in shares of GE Vernova by 20.3% during the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after buying an additional 30 shares during the period. Finally, Fulcrum Equity Management lifted its stake in shares of GE Vernova by 3.6% during the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after buying an additional 31 shares during the period.

Analysts Set New Price Targets

Several research firms have recently commented on GEV. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Glj Research assumed coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Finally, Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

Read Our Latest Report on GEV

GE Vernova Stock Up 1.1%

GEV stock opened at $658.09 on Wednesday. The stock has a market capitalization of $179.15 billion, a P/E ratio of 158.58, a P/E/G ratio of 4.50 and a beta of 1.90. The firm has a 50-day simple moving average of $555.12 and a 200-day simple moving average of $427.68. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29.

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

GE Vernova Announces Dividend

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

About GE Vernova

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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