Conning Inc. Purchases 170 Shares of GE Vernova Inc. (NYSE:GEV)

Conning Inc. grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,750 shares of the company’s stock after buying an additional 170 shares during the quarter. Conning Inc.’s holdings in GE Vernova were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aurora Private Wealth Inc. bought a new position in shares of GE Vernova during the 1st quarter valued at $4,413,000. Davidson Trust Co. lifted its holdings in shares of GE Vernova by 9.5% during the 1st quarter. Davidson Trust Co. now owns 794 shares of the company’s stock valued at $242,000 after buying an additional 69 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of GE Vernova by 2.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,709 shares of the company’s stock valued at $522,000 after buying an additional 33 shares during the period. Summit Place Financial Advisors LLC lifted its holdings in shares of GE Vernova by 1.0% during the 1st quarter. Summit Place Financial Advisors LLC now owns 11,290 shares of the company’s stock valued at $3,447,000 after buying an additional 113 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of GE Vernova by 102.5% during the 1st quarter. Rosenberg Matthew Hamilton now owns 330 shares of the company’s stock valued at $101,000 after buying an additional 167 shares during the period.

GE Vernova Stock Up 2.4%

GEV opened at $517.35 on Friday. The firm has a 50-day simple moving average of $461.19 and a two-hundred day simple moving average of $382.74. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $532.59. The company has a market capitalization 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 (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned ($0.47) EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GEV shares. Jefferies Financial Group lowered GE Vernova from a “buy” rating to a “hold” rating and upped their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Citigroup reduced their price objective 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. BMO Capital Markets upped their price objective on GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Wall Street Zen upgraded GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Susquehanna restated a “positive” rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $440.04.

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.