Mitchell Sinkler & Starr PA Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Mitchell Sinkler & Starr PA increased its position in GE Vernova Inc. (NYSE:GEV) by 17.4% in the first quarter, HoldingsChannel reports. The firm owned 3,032 shares of the company’s stock after purchasing an additional 450 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in GE Vernova were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in GE Vernova by 48.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 185,293 shares of the company’s stock worth $56,566,000 after purchasing an additional 60,091 shares during the period. Empirical Finance LLC boosted its holdings in shares of GE Vernova by 1.8% during the 1st quarter. Empirical Finance LLC now owns 8,620 shares of the company’s stock valued at $2,632,000 after buying an additional 150 shares in the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of GE Vernova by 6,850.0% during the 1st quarter. Valley Wealth Managers Inc. now owns 139 shares of the company’s stock valued at $42,000 after buying an additional 137 shares in the last quarter. Integrated Investment Consultants LLC grew its position in shares of GE Vernova by 96.8% in the 1st quarter. Integrated Investment Consultants LLC now owns 1,246 shares of the company’s stock worth $380,000 after buying an additional 613 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after acquiring an additional 799,388 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a “buy” rating on the stock. Robert W. Baird boosted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their price objective on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley raised their price target on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $555.43.

GE Vernova Price Performance

GEV stock opened at $644.60 on Friday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $651.22. The company has a market cap of $175.47 billion, a P/E ratio of 155.33, a price-to-earnings-growth ratio of 4.81 and a beta of 1.86. The stock’s fifty day moving average price is $510.80 and its 200-day moving average price is $406.35.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s payout ratio is 24.10%.

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.