Tufton Capital Management Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Tufton Capital Management acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 684 shares of the company's stock, valued at approximately $209,000.

Other large investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter valued at about $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $28,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, TD Cowen increased their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $540.96.

GE Vernova Stock Up 3.3%

GEV stock traded up $20.63 on Friday, reaching $644.60. 3,598,352 shares of the company's stock were exchanged, compared to its average volume of 3,205,434. The stock has a fifty day moving average of $510.80 and a 200-day moving average of $406.08. The firm has a market cap of $175.93 billion, a PE ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $651.22.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the company posted $4.65 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.16%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

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.