GE Vernova Inc. (NYSE:GEV) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 5.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,692 shares of the company’s stock after buying an additional 701 shares during the quarter. Wesbanco Bank Inc.’s holdings in GE Vernova were worth $4,485,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MRP Capital Investments LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC increased its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Navigoe LLC purchased a new position in GE Vernova during the fourth quarter worth $27,000. Finally, Clarity Asset Management Inc. purchased a new position in GE Vernova during the fourth quarter worth $28,000.

GE Vernova Price Performance

Shares of GEV opened at $487.06 on Monday. The stock’s 50-day moving average is $389.72 and its two-hundred day moving average is $360.91. The stock has a market cap of $132.94 billion, a PE ratio of 87.60, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted ($0.47) earnings per share. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio is presently 14.41%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent research reports. Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. Royal Bank of Canada lowered their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. BMO Capital Markets lifted their price objective on GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, Citigroup lowered their price objective on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Seven investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $385.78.

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.