Delta Investment Management LLC Purchases 1,179 Shares of GE Vernova Inc. (NYSE:GEV)

Delta Investment Management LLC raised its position in GE Vernova Inc. (NYSE:GEV) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,493 shares of the company’s stock after buying an additional 1,179 shares during the period. Delta Investment Management LLC’s holdings in GE Vernova were worth $1,149,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new stake in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC boosted its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $27,000.

Analyst Ratings Changes

A number of research firms recently commented on GEV. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Barclays dropped their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Finally, CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $374.62.

GE Vernova Stock Up 4.3%

Shares of GEV opened at $446.33 on Tuesday. The firm has a fifty day simple moving average of $347.00 and a two-hundred day simple moving average of $346.95. The stock has a market capitalization of $121.82 billion and a P/E ratio of 80.28. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $450.11.

GE Vernova (NYSE:GEV) last released 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 during 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%. GE Vernova’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) EPS. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

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.