Capital Investment Counsel Inc Purchases 49 Shares of GE Vernova Inc. (NYSE:GEV)

Capital Investment Counsel Inc grew its position in GE Vernova Inc. (NYSE:GEV) by 6.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 800 shares of the company’s stock after purchasing an additional 49 shares during the quarter. Capital Investment Counsel Inc’s holdings in GE Vernova were worth $244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEV. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC bought a new stake in shares of GE Vernova in the fourth quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova during the first quarter valued at approximately $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in GE Vernova in the fourth quarter worth approximately $28,000.

GE Vernova Price Performance

GEV opened at $504.82 on Thursday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $532.59. The firm has a market capitalization of $137.78 billion, a PE ratio of 72.74, a price-to-earnings-growth ratio of 3.90 and a beta of 1.86. The business’s 50-day moving average is $455.16 and its two-hundred day moving average is $380.19.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect 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. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GEV. Robert W. Baird lifted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 24th. The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. BMO Capital Markets raised their price objective on GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Finally, Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a “buy” rating for the company. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $440.04.

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.