Main Street Research LLC Invests $13.60 Million in GE Vernova Inc. (NYSE:GEV)

Main Street Research LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 1st quarter, Holdings Channel.com reports. The firm bought 44,533 shares of the company’s stock, valued at approximately $13,595,000.

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

GE Vernova Stock Up 0.4%

Shares of NYSE GEV traded up $2.27 during mid-day trading on Wednesday, reaching $532.27. 371,151 shares of the company were exchanged, compared to its average volume of 3,303,679. The company’s 50-day simple moving average is $467.60 and its 200-day simple moving average is $385.87. The stock has a market capitalization of $145.27 billion, a P/E ratio of 76.72, a P/E/G ratio of 4.08 and a beta of 1.86. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $539.89.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GEV shares. Wolfe Research lowered GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. BMO Capital Markets raised their target price on shares of GE Vernova from $522.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays lifted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Citigroup decreased their target price on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Susquehanna restated a “positive” rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $450.13.

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.