Talbot Financial LLC Buys New Position in GE Vernova Inc. (NYSE:GEV)

Talbot Financial LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,942 shares of the company's stock, valued at approximately $6,698,000.

Several other institutional investors have also recently made changes to their positions in the stock. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC boosted its holdings in shares of 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 purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at about $27,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth about $28,000.

Analysts Set New Price Targets

A number of analysts have issued reports on GEV shares. Robert W. Baird lifted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Truist Financial set a $440.00 price objective on GE Vernova in a research note on Thursday, March 27th. Royal Bank of Canada reduced their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Finally, CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating on the stock. Seven 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $385.78.

GE Vernova Stock Performance

NYSE GEV traded up $8.61 on Tuesday, reaching $493.77. 3,476,219 shares of the stock traded hands, compared to its average volume of 3,345,181. The company has a market cap of $134.77 billion, a price-to-earnings ratio of 88.81, a PEG ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $499.90. The company has a fifty day moving average price of $375.20 and a 200-day moving average price of $356.68.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 return on equity of 6.70% and a net margin of 4.44%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio 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.