Pallas Capital Advisors LLC Has $1.52 Million Stake in GE Vernova Inc. (NYSE:GEV)

Pallas Capital Advisors LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 161.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,987 shares of the company’s stock after purchasing an additional 3,082 shares during the period. Pallas Capital Advisors LLC’s holdings in GE Vernova were worth $1,522,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GEV. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% during the 4th 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 boosted its stake in shares of GE Vernova by 530.8% during the 4th 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. Navigoe LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at $27,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova during the 4th quarter valued at $28,000.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Barclays lifted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday. BMO Capital Markets lifted their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. TD Cowen cut their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Royal Bank of Canada cut their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Seven equities research 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 company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $387.78.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $480.39 on Tuesday. The company has a market cap 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. The stock’s 50-day moving average is $392.70 and its 200-day moving average is $361.82. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $500.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company 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 firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted ($0.47) earnings per share. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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