GE Vernova Inc. (NYSE:GEV) Shares Purchased by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 13,388 shares of the company’s stock after buying an additional 148 shares during the period. Petredis Investment Advisors LLC’s holdings in GE Vernova were worth $4,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Norges Bank purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $1,109,720,000. Capital International Investors boosted its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. GAMMA Investing LLC grew its stake in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, FMR LLC increased its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter.

GE Vernova Trading Down 1.0%

Shares of GEV opened at $480.39 on Tuesday. The business’s 50-day moving average price is $392.70 and its 200 day moving average price is $361.82. The stock has a market capitalization of $131.12 billion, a P/E ratio of 86.40, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72.

GE Vernova (NYSE:GEV) last announced 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 analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on GEV. JPMorgan Chase & Co. raised their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. BMO Capital Markets lifted their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $387.78.

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.