HM Payson & Co. Increases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

HM Payson & Co. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,427 shares of the company’s stock after buying an additional 340 shares during the period. HM Payson & Co.’s holdings in GE Vernova were worth $1,962,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Stonebridge Financial Group LLC lifted its holdings in GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company’s stock worth $105,000 after acquiring an additional 28 shares during the period. Fulcrum Equity Management lifted its holdings in GE Vernova by 3.6% during the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock worth $291,000 after acquiring an additional 31 shares during the period. Dopkins Wealth Management LLC lifted its holdings in GE Vernova by 4.9% during the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company’s stock worth $204,000 after acquiring an additional 31 shares during the period. Rothschild Investment LLC lifted its holdings in GE Vernova by 1.7% during the first quarter. Rothschild Investment LLC now owns 1,965 shares of the company’s stock worth $600,000 after acquiring an additional 33 shares during the period. Finally, Johnson & White Wealth Management LLC lifted its holdings in GE Vernova by 3.7% during the first quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company’s stock worth $284,000 after acquiring an additional 33 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $517.35 on Friday. The stock has a market cap of $141.20 billion, a PE ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59. The stock has a fifty day moving average of $461.19 and a 200-day moving average of $383.19.

GE Vernova (NYSE:GEV) last announced its quarterly 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. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the business earned ($0.47) earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova’s payout ratio is 14.41%.

Analysts Set New Price Targets

A number of brokerages recently commented on GEV. Bank of America lifted their price target on GE Vernova from $520.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. BMO Capital Markets boosted their target price on GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Barclays boosted their target price on GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Jefferies Financial Group lowered GE Vernova from a “buy” rating to a “hold” rating and boosted their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group boosted their target price on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $440.04.

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.