Terra Nova Asset Management LLC Acquires 859 Shares of GE Vernova Inc. (NYSE:GEV)

Terra Nova Asset Management LLC raised its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,046 shares of the company's stock after acquiring an additional 859 shares during the period. GE Vernova comprises 1.7% of Terra Nova Asset Management LLC's holdings, making the stock its 25th biggest holding. Terra Nova Asset Management LLC's holdings in GE Vernova were worth $2,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Wealth Effects LLC bought a new stake in shares of GE Vernova during the first quarter worth about $347,000. Alpine Bank Wealth Management bought a new stake in shares of GE Vernova during the first quarter worth about $148,000. HBK Sorce Advisory LLC grew its holdings in shares of GE Vernova by 14.4% during the first quarter. HBK Sorce Advisory LLC now owns 4,330 shares of the company's stock worth $1,322,000 after purchasing an additional 546 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of GE Vernova by 562.0% during the first quarter. Golden State Wealth Management LLC now owns 2,681 shares of the company's stock worth $818,000 after purchasing an additional 2,276 shares during the last quarter. Finally, Aurora Private Wealth Inc. bought a new stake in shares of GE Vernova during the first quarter worth about $4,413,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. Susquehanna reaffirmed a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. 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. Morgan Stanley lifted their price objective on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Bank of America lifted their price objective on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Stock Down 1.5%

Shares of NYSE:GEV opened at $502.99 on Thursday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $522.97. The stock's 50 day moving average is $436.25 and its 200-day moving average is $374.00. The firm has a market capitalization of $137.28 billion, a price-to-earnings ratio of 72.48, a PEG ratio of 3.97 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) earnings per share. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given 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 payout ratio is 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.