Wright Investors Service Inc. Invests $584,000 in GE Vernova Inc. (NYSE:GEV)

Wright Investors Service Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,914 shares of the company's stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. MRP Capital Investments LLC acquired a new stake in GE Vernova in the 4th quarter valued at $25,000. Fairway Wealth LLC boosted its stake 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 purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the period. Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter worth $27,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the 4th quarter worth $28,000.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. Susquehanna restated a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price target on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and upped their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Morgan Stanley reiterated an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Royal Bank of Canada reduced their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $385.78.

GE Vernova Trading Down 0.3%

NYSE GEV traded down $1.31 during mid-day trading on Thursday, reaching $486.82. 1,159,843 shares of the company's stock traded hands, compared to its average volume of 3,324,728. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The company has a fifty day simple moving average of $382.72 and a 200-day simple moving average of $358.53. The company has a market cap of $132.87 billion, a price-to-earnings ratio of 87.56, a P/E/G ratio of 3.03 and a beta of 1.97.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's payout ratio is 14.41%.

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.