Oppenheimer Asset Management Inc. Takes $328,000 Position in GE Vernova Inc. (NYSE:GEV)

Oppenheimer Asset Management Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,076 shares of the company’s stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Brighton Jones LLC grew its stake in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of GE Vernova in the 4th quarter worth $789,000. Oppenheimer & Co. Inc. grew its position in shares of GE Vernova by 30.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,398 shares of the company’s stock worth $2,762,000 after buying an additional 1,941 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at $1,170,000. Finally, Fisher Asset Management LLC raised its holdings in shares of GE Vernova by 20.8% in the fourth quarter. Fisher Asset Management LLC now owns 3,237 shares of the company’s stock valued at $1,065,000 after acquiring an additional 557 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wolfe Research downgraded shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Royal Bank Of Canada reduced their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Robert W. Baird upped their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Barclays lifted 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. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $429.13.

GE Vernova Price Performance

GE Vernova stock opened at $529.93 on Tuesday. The stock has a market cap of $144.63 billion, a price-to-earnings ratio of 76.36, a price-to-earnings-growth ratio of 4.03 and a beta of 1.97. The firm has a 50 day simple moving average of $448.23 and a 200-day simple moving average of $378.45. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $532.59.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The business’s revenue was up 10.6% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

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.