Tran Capital Management L.P. Takes Position in GE Vernova Inc. (NYSE:GEV)

Tran Capital Management L.P. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 51,925 shares of the company's stock, valued at approximately $15,852,000. GE Vernova accounts for about 2.1% of Tran Capital Management L.P.'s portfolio, making the stock its 17th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. MRP Capital Investments LLC bought a new stake in GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC acquired a new stake in GE Vernova during the 4th quarter worth about $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova during the 4th quarter worth about $28,000. Finally, Orion Capital Management LLC acquired a new stake in GE Vernova during the 4th quarter worth about $30,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GEV shares. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America increased 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. BMO Capital Markets raised their price target on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday, May 30th. TD Cowen reduced their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $395.98.

GE Vernova Trading Up 0.7%

GEV traded up $3.17 on Thursday, reaching $486.64. The stock had a trading volume of 2,429,874 shares, compared to its average volume of 3,284,804. The company has a market capitalization of $132.82 billion, a price-to-earnings ratio of 87.53, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The firm has a 50-day moving average of $400.27 and a 200-day moving average of $363.37. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the company earned ($0.47) EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova's payout ratio is currently 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.