Scientech Research LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Scientech Research LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,511 shares of the company’s stock, valued at approximately $1,155,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC raised its position in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares during the last quarter. Mutual Advisors LLC boosted its stake in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares during the period. WASHINGTON TRUST Co boosted its stake in GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after acquiring an additional 31 shares during the last quarter. Kovack Advisors Inc. raised its holdings in shares of GE Vernova by 1.0% during the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company’s stock worth $1,042,000 after purchasing an additional 31 shares during the period. Finally, NewSquare Capital LLC raised its holdings in shares of GE Vernova by 32.4% during the fourth quarter. NewSquare Capital LLC now owns 139 shares of the company’s stock worth $46,000 after purchasing an additional 34 shares during the period.

GE Vernova Stock Performance

GEV opened at $428.63 on Friday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50. The company has a fifty day moving average of $344.05 and a two-hundred day moving average of $345.30. The stock has a market capitalization of $116.99 billion and a price-to-earnings ratio of 77.09.

GE Vernova (NYSE:GEV) last posted its earnings results 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 company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. GE Vernova’s dividend payout ratio is presently 14.41%.

Wall Street Analyst Weigh In

Several equities analysts have commented on GEV shares. Royal Bank of Canada lowered their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Susquehanna reaffirmed a “positive” rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets lowered their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Six equities 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’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $374.62.

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.