Stock Yards Bank & Trust Co. Increases Position in GE Vernova Inc. (NYSE:GEV)

Stock Yards Bank & Trust Co. grew its position in GE Vernova Inc. (NYSE:GEV) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,681 shares of the company’s stock after buying an additional 217 shares during the period. Stock Yards Bank & Trust Co.’s holdings in GE Vernova were worth $818,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. grew its stake in shares of GE Vernova by 29.0% in the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company’s stock valued at $622,000 after buying an additional 425 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of GE Vernova by 7.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 109,824 shares of the company’s stock valued at $36,659,000 after buying an additional 7,970 shares during the period. O Neil Global Advisors Inc. purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $2,064,000. Axiom Investors LLC DE purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $123,157,000. Finally, Myriad Asset Management US LP purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $1,035,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on GEV shares. Susquehanna reissued a “positive” rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays increased their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Wolfe Research cut shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday. Finally, Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.56.

GE Vernova Trading Down 2.0%

Shares of GEV opened at $477.93 on Friday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72. The firm’s fifty day simple moving average is $408.13 and its 200-day simple moving average is $365.62. The firm has a market capitalization of $130.44 billion, a price-to-earnings ratio of 85.96, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business earned ($0.47) EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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