GE Vernova Inc. (NYSE:GEV) Stake Boosted by Tempus Wealth Planning LLC

Tempus Wealth Planning LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,406 shares of the company’s stock after acquiring an additional 114 shares during the period. GE Vernova accounts for 2.0% of Tempus Wealth Planning LLC’s investment portfolio, making the stock its 8th biggest holding. Tempus Wealth Planning LLC’s holdings in GE Vernova were worth $6,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Capital International Investors boosted its holdings in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank bought a new stake in GE Vernova in the fourth quarter worth $1,109,720,000. Finally, Northern Trust Corp boosted its holdings in GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEV. TD Cowen decreased their price objective on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, April 24th. BMO Capital Markets upped their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday. Glj Research began coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a “buy” rating for the company. Susquehanna upped their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Barclays upped their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $528.67.

GE Vernova Stock Performance

Shares of GEV opened at $623.70 on Friday. The company has a 50-day simple moving average of $506.49 and a 200-day simple moving average of $404.16. The firm has a market capitalization of $170.23 billion, a P/E ratio of 150.29, a P/E/G ratio of 4.70 and a beta of 1.86. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $633.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 earnings per share. As a group, equities analysts forecast 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 will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio is currently 14.41%.

About GE Vernova

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.