Spirit of America Management Corp NY Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Spirit of America Management Corp NY acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,200 shares of the company's stock, valued at approximately $366,000.

Other large investors also recently bought and sold shares of the company. MRP Capital Investments LLC purchased a new position in GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the 4th quarter worth $28,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth $30,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GEV shares. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Royal Bank Of Canada lowered their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Morgan Stanley reiterated an "overweight" rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Finally, Guggenheim restated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $404.56.

GE Vernova Stock Up 0.3%

Shares of NYSE:GEV opened at $490.12 on Friday. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72. The stock has a market cap of $133.77 billion, a price-to-earnings ratio of 70.62, a PEG ratio of 3.81 and a beta of 1.97. The business has a 50-day moving average price of $422.24 and a 200-day moving average price of $369.65.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is 14.41%.

About GE Vernova

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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