Ballentine Partners LLC Purchases 39 Shares of GE Vernova Inc. (NYSE:GEV)

Ballentine Partners LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 0.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,129 shares of the company’s stock after purchasing an additional 39 shares during the period. Ballentine Partners LLC’s holdings in GE Vernova were worth $1,566,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GEV. Fort Sheridan Advisors LLC grew its position in shares of GE Vernova by 10.5% during the 1st quarter. Fort Sheridan Advisors LLC now owns 2,835 shares of the company’s stock valued at $865,000 after acquiring an additional 270 shares during the period. Fortem Financial Group LLC grew its position in shares of GE Vernova by 147.2% during the 1st quarter. Fortem Financial Group LLC now owns 2,168 shares of the company’s stock valued at $662,000 after acquiring an additional 1,291 shares during the period. Rik Saylor Financial Inc. bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $214,000. Diversify Wealth Management LLC grew its position in shares of GE Vernova by 12.7% during the 1st quarter. Diversify Wealth Management LLC now owns 1,295 shares of the company’s stock valued at $395,000 after acquiring an additional 146 shares during the period. Finally, Xponance Inc. grew its position in shares of GE Vernova by 1.9% during the 1st quarter. Xponance Inc. now owns 37,858 shares of the company’s stock valued at $11,557,000 after acquiring an additional 688 shares during the period.

GE Vernova Stock Performance

NYSE GEV opened at $538.95 on Friday. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $546.65. The company has a market capitalization of $147.10 billion, a P/E ratio of 77.66, a P/E/G ratio of 4.15 and a beta of 1.86. The company has a fifty day moving average of $476.87 and a 200-day moving average of $389.85.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio is currently 14.41%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEV. Wolfe Research downgraded shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 target price for the company. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada cut their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $451.38.

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.