Summit Trail Advisors LLC Purchases 1,582 Shares of GE Vernova Inc. (NYSE:GEV)

Summit Trail Advisors LLC grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,086 shares of the company's stock after acquiring an additional 1,582 shares during the quarter. Summit Trail Advisors LLC's holdings in GE Vernova were worth $1,858,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GEV. MRP Capital Investments LLC acquired a new stake in GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC increased its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Navigoe LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth about $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the 1st quarter valued at about $27,000. Finally, Clarity Asset Management Inc. bought a new position in shares of GE Vernova during the 4th quarter valued at about $28,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEV. TD Cowen dropped their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Citigroup lowered their target price on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Barclays lifted their price target on GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Trading Down 4.6%

NYSE:GEV traded down $24.26 on Tuesday, hitting $504.89. The company's stock had a trading volume of 6,521,882 shares, compared to its average volume of 3,298,779. GE Vernova Inc. has a one year low of $150.01 and a one year high of $532.59. The firm has a market capitalization of $137.80 billion, a P/E ratio of 72.75, a price-to-earnings-growth ratio of 4.03 and a beta of 1.97. The stock has a fifty day moving average of $448.23 and a two-hundred day moving average of $378.45.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The firm's revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 14.41%.

GE Vernova 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.