Washburn Capital Management Inc. Makes New $1.16 Million Investment in GE Vernova Inc. (NYSE:GEV)

Washburn Capital Management Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,791 shares of the company's stock, valued at approximately $1,157,000. GE Vernova accounts for 0.6% of Washburn Capital Management Inc.'s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Brighton Jones LLC raised its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in GE Vernova during the fourth quarter worth about $287,000. American Assets Inc. purchased a new stake in GE Vernova in the 4th quarter valued at approximately $658,000. Connor Clark & Lunn Investment Management Ltd. increased its position in GE Vernova by 2.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,106 shares of the company's stock worth $1,022,000 after purchasing an additional 81 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of GE Vernova by 8.8% during the 4th quarter. Harbour Investments Inc. now owns 2,508 shares of the company's stock worth $825,000 after buying an additional 202 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GEV. Susquehanna restated a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Glj Research began coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $468.88.

GE Vernova Stock Up 0.9%

Shares of NYSE:GEV traded up $4.85 during midday trading on Friday, reaching $575.02. The company's stock had a trading volume of 2,051,713 shares, compared to its average volume of 3,299,435. The firm has a market cap of $156.94 billion, a price-to-earnings ratio of 82.86, a price-to-earnings-growth ratio of 4.33 and a beta of 1.86. The business has a 50 day moving average price of $493.30 and a 200 day moving average price of $397.90. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $581.27.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.17%. GE Vernova's payout ratio is 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.