TFR Capital LLC. Takes Position in GE Vernova Inc. (NYSE:GEV)

TFR Capital LLC. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,689 shares of the company's stock, valued at approximately $1,431,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hughes Financial Services LLC acquired a new position in GE Vernova during the 1st quarter worth about $83,000. Schear Investment Advisers LLC lifted its position in GE Vernova by 23.8% during the 1st quarter. Schear Investment Advisers LLC now owns 11,640 shares of the company's stock worth $3,553,000 after buying an additional 2,241 shares in the last quarter. Westmount Partners LLC lifted its position in GE Vernova by 31.1% during the 1st quarter. Westmount Partners LLC now owns 873 shares of the company's stock valued at $267,000 after purchasing an additional 207 shares during the period. Stephens Inc. AR lifted its position in GE Vernova by 7.6% during the 1st quarter. Stephens Inc. AR now owns 7,490 shares of the company's stock valued at $2,286,000 after purchasing an additional 526 shares during the period. Finally, New York State Common Retirement Fund lifted its position in GE Vernova by 3.1% during the 1st quarter. New York State Common Retirement Fund now owns 356,147 shares of the company's stock valued at $108,725,000 after purchasing an additional 10,866 shares during the period.

Analysts Set New Price Targets

A number of research firms have issued reports on GEV. TD Cowen cut their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Bank of America upped their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Morgan Stanley upped their target price on shares of GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $451.38.

GE Vernova Stock Performance

NYSE GEV traded up $11.58 during trading hours on Monday, reaching $550.74. 861,490 shares of the company's stock were exchanged, compared to its average volume of 3,316,052. The company's 50-day moving average is $476.87 and its two-hundred day moving average is $390.18. GE Vernova Inc. has a one year low of $150.01 and a one year high of $553.26. The company has a market capitalization of $150.31 billion, a price-to-earnings ratio of 79.38, a price-to-earnings-growth ratio of 4.01 and a beta of 1.86.

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

GE Vernova Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. GE Vernova's dividend payout ratio is currently 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.