True North Advisors LLC Buys 38 Shares of GE Vernova Inc. (NYSE:GEV)

True North Advisors LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,963 shares of the company’s stock after buying an additional 38 shares during the quarter. True North Advisors LLC’s holdings in GE Vernova were worth $1,820,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares in the last quarter. Capital International Investors lifted its position in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares in the last quarter. Northern Trust Corp lifted its position in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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 purchasing an additional 2,135,066 shares in the last quarter.

GE Vernova Stock Up 0.5%

Shares of GEV stock opened at $648.94 on Friday. The company has a market cap of $176.65 billion, a price-to-earnings ratio of 156.37, a price-to-earnings-growth ratio of 4.46 and a beta of 1.90. GE Vernova Inc. has a 52 week low of $172.60 and a 52 week high of $677.29. The firm has a 50 day moving average of $548.53 and a 200-day moving average of $424.55.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GEV. Mizuho lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective on the stock. in a research report on Monday, July 28th. Barclays increased their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group downgraded shares of GE Vernova from a “buy” rating to a “hold” rating and lifted their price objective for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $560.21.

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.