GE Vernova Inc. (NYSE:GEV) Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,196 shares of the company’s stock after purchasing an additional 354 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GE Vernova were worth $4,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in GE Vernova by 380.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 24,000 shares of the company’s stock valued at $7,327,000 after purchasing an additional 19,000 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in GE Vernova during the first quarter valued at $743,000. Mirae Asset Global Investments Co. Ltd. increased its stake in GE Vernova by 53.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 118,267 shares of the company’s stock valued at $36,105,000 after purchasing an additional 41,048 shares during the last quarter. Oakworth Capital Inc. increased its stake in GE Vernova by 127.7% during the first quarter. Oakworth Capital Inc. now owns 353 shares of the company’s stock valued at $108,000 after purchasing an additional 198 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in GE Vernova by 0.7% during the first quarter. Jaffetilchin Investment Partners LLC now owns 4,943 shares of the company’s stock valued at $1,509,000 after purchasing an additional 35 shares during the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $517.35 on Monday. The company has a 50 day simple moving average of $461.19 and a 200-day simple moving average of $383.54. The firm has a market capitalization of $141.20 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $532.59.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank Of Canada reduced their price target 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. TD Cowen reduced their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Barclays boosted their price target 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. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.04.

About GE Vernova

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.