GE Vernova Inc. (NYSE:GEV) Holdings Increased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 41.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,426 shares of the company’s stock after buying an additional 1,893 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in GE Vernova were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Navigoe LLC bought a new stake in shares of GE Vernova during the 4th quarter worth about $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000. Finally, Orion Capital Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $30,000.

Analyst Ratings Changes

A number of analysts recently commented on GEV shares. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 target price on the stock. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a “buy” rating on the stock. Robert W. Baird boosted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $560.21.

GE Vernova Price Performance

GE Vernova stock opened at $648.94 on Friday. The firm’s 50 day simple moving average is $548.53 and its 200-day simple moving average is $424.55. GE Vernova Inc. has a fifty-two week low of $172.60 and a fifty-two week high of $677.29. The company has a market cap of $176.65 billion, a P/E ratio of 156.37, a price-to-earnings-growth ratio of 4.46 and a beta of 1.90.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio is currently 24.10%.

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.