St. Clair Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

St. Clair Advisors LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 696 shares of the company's stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in GE Vernova in the fourth quarter valued at $206,000. GPS Wealth Strategies Group LLC increased its stake in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after purchasing an additional 822 shares in the last quarter. Legacy Bridge LLC increased its stake in GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock valued at $3,612,000 after purchasing an additional 4,776 shares in the last quarter. CENTRAL TRUST Co increased its stake in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after purchasing an additional 1,408 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in GE Vernova by 29.0% in the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after purchasing an additional 425 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEV. Morgan Stanley reiterated an "overweight" rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Susquehanna reiterated a "positive" rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Royal Bank of Canada reduced their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Finally, Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a "buy" rating and a $425.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $374.62.

GE Vernova Stock Performance

GEV stock traded up $5.43 during mid-day trading on Thursday, reaching $458.46. 2,680,694 shares of the stock traded hands, compared to its average volume of 3,334,465. GE Vernova Inc. has a one year low of $150.01 and a one year high of $474.00. The stock has a market capitalization of $125.13 billion and a PE ratio of 82.46. The business has a 50-day moving average price of $352.79 and a two-hundred day moving average price of $348.40.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm 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%. The business's revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. 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.