Davis Investment Partners LLC Has $648,000 Position in GE Vernova Inc. (NYSE:GEV)

Davis Investment Partners LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 20.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,011 shares of the company’s stock after buying an additional 340 shares during the quarter. Davis Investment Partners LLC’s holdings in GE Vernova were worth $648,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GEV. Brighton Jones LLC grew its holdings in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of GE Vernova by 61.0% during the fourth quarter. Empowered Funds LLC now owns 7,005 shares of the company’s stock worth $2,304,000 after buying an additional 2,653 shares in the last quarter. Savant Capital LLC grew its holdings in shares of GE Vernova by 1.4% during the fourth quarter. Savant Capital LLC now owns 9,324 shares of the company’s stock worth $3,067,000 after buying an additional 130 shares in the last quarter. Focus Financial Network Inc. bought a new position in shares of GE Vernova during the fourth quarter worth about $256,000. Finally, Mill Creek Capital Advisors LLC bought a new position in GE Vernova in the fourth quarter valued at approximately $263,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GEV shares. Susquehanna restated a “positive” rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Citigroup decreased their price target on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Finally, Jefferies Financial Group downgraded GE Vernova from a “buy” rating to a “hold” rating and raised their price target for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $395.98.

GE Vernova Price Performance

GEV opened at $482.74 on Thursday. The business has a fifty day simple moving average of $400.27 and a 200 day simple moving average of $363.37. The company has a market capitalization of $131.76 billion, a PE ratio of 86.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova’s dividend payout ratio (DPR) is presently 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.