University of Texas Texas AM Investment Management Co. Takes $1.84 Million Position in GE Vernova Inc. (NYSE:GEV)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 5,579 shares of the company’s stock, valued at approximately $1,835,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC grew its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $27,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets lowered their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Susquehanna reissued a “positive” rating and issued a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Johnson Rice assumed coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their price target on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $374.62.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $458.46 on Friday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $475.40. The firm has a market capitalization of $125.13 billion and a price-to-earnings ratio of 82.46. The company’s fifty day moving average price is $355.31 and its 200-day moving average price is $349.52.

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. 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%. GE Vernova’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 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.