Algert Global LLC Purchases Shares of 14,384 GE Vernova Inc. $GEV

Algert Global LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,384 shares of the company’s stock, valued at approximately $4,391,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Navigoe LLC acquired a new stake in GE Vernova during the fourth quarter worth $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the 1st quarter worth about $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the 1st quarter worth about $27,000. Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $30,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Morgan Stanley upped their price objective on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Mizuho lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Finally, BMO Capital Markets upped their price target on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Ten 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $560.21.

GE Vernova Stock Up 0.4%

Shares of GEV stock opened at $624.51 on Tuesday. The firm has a market cap of $170.00 billion, a price-to-earnings ratio of 150.48, a PEG ratio of 4.30 and a beta of 1.90. GE Vernova Inc. has a 12 month low of $173.07 and a 12 month high of $677.29. The stock has a 50-day moving average price of $566.43 and a 200 day moving average price of $435.65.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.65 EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova’s payout ratio is currently 24.10%.

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.