Patriot Financial Group Insurance Agency LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Patriot Financial Group Insurance Agency LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,929 shares of the company’s stock after buying an additional 232 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in GE Vernova were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in GE Vernova by 3.4% in the fourth 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 period. Capital International Investors grew its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the period. Norges Bank purchased a new stake in shares of GE Vernova during the 4th quarter worth about $1,109,720,000. Finally, Northern Trust Corp grew its holdings in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GEV shares. Jefferies Financial Group cut GE Vernova from a “buy” rating to a “hold” rating and boosted their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Royal Bank of Canada decreased their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Susquehanna reiterated a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. BMO Capital Markets boosted their target price on GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Finally, New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.78.

GE Vernova Price Performance

Shares of NYSE GEV opened at $480.39 on Tuesday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The business’s fifty day moving average price is $392.70 and its two-hundred day moving average price is $361.82. The firm has a market capitalization of $131.12 billion, a PE ratio of 86.40, a P/E/G ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The company 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 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) earnings per share. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s payout ratio is currently 14.41%.

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.