GE Vernova Inc. (NYSE:GEV) Shares Acquired by Continuum Advisory LLC

Continuum Advisory LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 20.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 635 shares of the company’s stock after purchasing an additional 108 shares during the period. Continuum Advisory LLC’s holdings in GE Vernova were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Norges Bank purchased a new stake in GE Vernova during the 4th quarter valued at approximately $1,109,720,000. Capital International Investors raised its stake in GE Vernova by 25.3% during the 4th 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 during the last quarter. GAMMA Investing LLC raised its stake in GE Vernova by 32,984.2% during the 1st 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 during the last quarter. Massachusetts Financial Services Co. MA raised its stake in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. Finally, FMR LLC raised its stake in GE Vernova by 3.4% during the 4th 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 during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America upped their price objective on GE Vernova from $520.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. BMO Capital Markets upped their price objective on GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Morgan Stanley boosted their target price on GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a research report on Tuesday. Susquehanna reiterated a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Robert W. Baird boosted their target price on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $429.13.

GE Vernova Stock Performance

GEV stock opened at $511.61 on Wednesday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $512.82. The stock’s 50 day moving average price is $432.77 and its 200 day moving average price is $373.10. The firm has a market cap of $139.63 billion, a P/E ratio of 73.72, a PEG ratio of 3.88 and a beta of 1.97.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 0.20%. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

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.