Stephens Inc. AR Grows Stake in GE Vernova Inc. (NYSE:GEV)

Stephens Inc. AR grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,490 shares of the company's stock after acquiring an additional 526 shares during the period. Stephens Inc. AR's holdings in GE Vernova were worth $2,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $28,000. Orion Capital Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000.

GE Vernova Stock Up 1.3%

GEV stock traded up $7.33 during trading on Thursday, hitting $568.50. 1,867,833 shares of the company's stock traded hands, compared to its average volume of 3,315,586. The firm has a market capitalization of $155.16 billion, a P/E ratio of 81.95, a PEG ratio of 4.17 and a beta of 1.86. The business has a fifty day simple moving average of $486.23 and a two-hundred day simple moving average of $394.06. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $581.04.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is currently 14.41%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Barclays increased their price target on GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. UBS Group assumed coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Finally, Bank of America raised their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $468.88.

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.