NorthRock Partners LLC Purchases 3,120 Shares of GE Vernova Inc. (NYSE:GEV)

NorthRock Partners LLC raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 288.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,200 shares of the company's stock after purchasing an additional 3,120 shares during the quarter. NorthRock Partners LLC's holdings in GE Vernova were worth $1,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC increased its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. BMO Capital Markets reduced their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their price target on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $374.62.

GE Vernova Stock Performance

Shares of NYSE:GEV traded up $1.66 during midday trading on Friday, reaching $428.63. 2,595,385 shares of the company's stock traded hands, compared to its average volume of 3,320,423. The company has a market cap of $116.99 billion and a price-to-earnings ratio of 77.09. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50. The stock has a 50 day moving average of $344.05 and a 200 day moving average of $345.63.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly 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. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.47) earnings per share. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is currently 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.