Tufton Capital Management Acquires Shares of 684 GE Vernova Inc. (NYSE:GEV)

Tufton Capital Management acquired a new position in GE Vernova Inc. (NYSE:GEV) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 684 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds have also modified their holdings of the company. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the 4th quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the first quarter worth $27,000. Orion Capital Management LLC purchased a new position in GE Vernova during the fourth quarter valued at $30,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GEV. BMO Capital Markets increased their target price on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company increased their price objective on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Wolfe Research lowered shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Finally, TD Cowen decreased their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $528.67.

GE Vernova Trading Down 0.8%

NYSE GEV opened at $623.70 on Friday. The stock has a fifty day simple moving average of $506.49 and a 200-day simple moving average of $404.16. The stock has a market cap of $170.23 billion, a PE ratio of 150.29, a P/E/G ratio of 4.70 and a beta of 1.86. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $633.72.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. GE Vernova’s payout ratio is currently 14.41%.

GE Vernova Company 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.