GE Vernova Inc. (NYSE:GEV) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 55.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,392 shares of the company's stock after buying an additional 51,913 shares during the period. Victory Capital Management Inc. owned 0.05% of GE Vernova worth $44,385,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GEV. Brighton Jones LLC boosted its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in GE Vernova in the fourth quarter worth about $287,000. American Assets Inc. purchased a new position in GE Vernova in the fourth quarter worth about $658,000. Sandy Spring Bank raised its holdings in GE Vernova by 10.2% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company's stock worth $376,000 after buying an additional 106 shares during the last quarter. Finally, HUB Investment Partners LLC raised its holdings in GE Vernova by 3.3% in the fourth quarter. HUB Investment Partners LLC now owns 1,711 shares of the company's stock worth $563,000 after buying an additional 55 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV traded up $81.09 during trading hours on Wednesday, reaching $630.08. The company's stock had a trading volume of 7,055,624 shares, compared to its average volume of 3,319,112. The company has a market capitalization of $171.97 billion, a P/E ratio of 90.79, a price-to-earnings-growth ratio of 4.13 and a beta of 1.86. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $633.72. The stock has a 50 day moving average price of $502.54 and a two-hundred day moving average price of $402.41.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 earnings per share. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors 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 yield of 0.16%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GEV. UBS Group began coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Citigroup reaffirmed a "neutral" rating and set a $544.00 price target (up previously from $354.00) on shares of GE Vernova in a research report on Monday, July 14th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Finally, Guggenheim reaffirmed a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Seven 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $468.88.

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.