5,000 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Viking Fund Management LLC

Viking Fund Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $1,526,000.

Several other hedge funds also recently added to or reduced their stakes in GEV. MRP Capital Investments LLC acquired a new position in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Navigoe LLC bought a new stake in GE Vernova during the fourth quarter valued at $27,000. Finally, Clarity Asset Management Inc. bought a new stake in GE Vernova during the fourth quarter valued at $28,000.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $3.98 during midday trading on Thursday, reaching $484.15. 2,435,947 shares of the company's stock traded hands, compared to its average volume of 3,329,271. The company has a market cap of $132.14 billion, a price-to-earnings ratio of 87.08, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. The company's 50 day simple moving average is $382.72 and its 200 day simple moving average is $358.53. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. TD Cowen decreased their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Royal Bank of Canada cut their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Guggenheim restated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Finally, BMO Capital Markets raised their target price on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Seven 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.

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.