Simon Quick Advisors LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

Simon Quick Advisors LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 15.1% in the first quarter, Holdings Channel reports. The institutional investor owned 2,089 shares of the company’s stock after buying an additional 274 shares during the quarter. Simon Quick Advisors LLC’s holdings in GE Vernova were worth $638,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new position in GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter worth about $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter worth about $28,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova during the fourth quarter worth about $30,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Bank of America boosted their price objective on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $404.56.

GE Vernova Stock Performance

Shares of GEV stock opened at $477.93 on Friday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The stock’s fifty day moving average is $408.13 and its two-hundred day moving average is $365.41. The firm has a market capitalization of $130.44 billion, a P/E ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during 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 last year, the company earned ($0.47) EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a $0.25 dividend. 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 dividend 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.