PDS Planning Inc Acquires 79 Shares of GE Vernova Inc. (NYSE:GEV)

by · The Markets Daily

PDS Planning Inc raised its holdings in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,643 shares of the company’s stock after purchasing an additional 79 shares during the period. PDS Planning Inc’s holdings in GE Vernova were worth $502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GEV. FMR LLC increased its holdings in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Capital International Investors boosted its holdings in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after acquiring an additional 195,828 shares during the period. Norges Bank purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp raised its holdings in shares of GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after purchasing an additional 343,837 shares during the last quarter.

GE Vernova Stock Performance

GEV opened at $506.74 on Friday. The stock has a market cap of $138.30 billion, a price-to-earnings ratio of 73.02, a price-to-earnings-growth ratio of 3.90 and a beta of 1.97. The firm’s fifty day moving average is $439.93 and its 200 day moving average is $375.18. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $522.97.

GE Vernova (NYSE:GEV – Get Free Report) last posted 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 business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned ($0.47) earnings per share. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors 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 dividend on an annualized basis and a yield of 0.20%. GE Vernova’s dividend payout ratio is presently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research reports. Morgan Stanley raised their target price on shares of GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a report on Tuesday. Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Robert W. Baird raised their price target on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. Finally, Barclays raised their target price on GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $429.13.

Get Our Latest Analysis on GEV

About GE Vernova

(Free Report)

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.

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