Federated Hermes Inc. Buys 434 Shares of GE Vernova Inc. (NYSE:GEV)

Federated Hermes Inc. grew its stake in GE Vernova Inc. (NYSE:GEV) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,902 shares of the company’s stock after purchasing an additional 434 shares during the quarter. Federated Hermes Inc.’s holdings in GE Vernova were worth $173,369,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its stake in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Capital International Investors grew its stake 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 valued at $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Northern Trust Corp grew its stake 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 valued at $865,126,000 after acquiring an additional 343,837 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake 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 valued at $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Citigroup upped their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Jefferies Financial Group downgraded shares of GE Vernova from a “buy” rating to a “hold” rating and upped their price target for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a “buy” rating on the stock. Wells Fargo & Company upped their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $560.21.

GE Vernova Trading Up 0.6%

GEV stock opened at $648.39 on Tuesday. The stock has a market capitalization of $176.51 billion, a P/E ratio of 156.24, a price-to-earnings-growth ratio of 4.57 and a beta of 1.86. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $651.22. The firm has a 50-day moving average price of $514.85 and a 200-day moving average price of $408.60.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business 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%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $4.65 EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.15%. GE Vernova’s dividend payout ratio (DPR) is presently 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.