Mendel Money Management Makes New $2.54 Million Investment in GE Vernova Inc. (NYSE:GEV)

Mendel Money Management purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,326 shares of the company’s stock, valued at approximately $2,542,000. GE Vernova accounts for about 1.2% of Mendel Money Management’s portfolio, making the stock its 27th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in shares of GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after buying an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company’s stock worth $67,622,000 after buying an additional 98,034 shares in the last quarter. Grandview Asset Management LLC raised its stake in shares of GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company’s stock worth $656,000 after buying an additional 705 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of GE Vernova in the 1st quarter worth $328,000. Finally, GAMMA Investing LLC raised its stake in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after buying an additional 542 shares in the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $630.08 on Thursday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $634.53. The stock has a market capitalization of $171.97 billion, a PE ratio of 90.79, a P/E/G ratio of 4.13 and a beta of 1.86. The stock has a 50-day simple moving average of $502.54 and a 200 day simple moving average of $402.41.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the company earned $4.65 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. GE Vernova’s dividend payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GEV. TD Cowen cut their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Glj Research began coverage on GE Vernova in a research report on Monday, June 23rd. They set a “buy” rating on the stock. Wolfe Research lowered GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Morgan Stanley boosted their target price on GE Vernova from $422.00 to $511.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Finally, Barclays boosted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven 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. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $486.67.

GE Vernova 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.