Estabrook Capital Management Purchases 1,808 Shares of GE Vernova Inc. $GEV

Estabrook Capital Management grew its holdings in GE Vernova Inc. (NYSE:GEV) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,799 shares of the company’s stock after purchasing an additional 1,808 shares during the quarter. Estabrook Capital Management’s holdings in GE Vernova were worth $5,714,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova in the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new position in GE Vernova during the second quarter worth $408,000. Resona Asset Management Co. Ltd. increased its position in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after acquiring an additional 6,551 shares during the period. Dupree Financial Group LLC acquired a new position in GE Vernova during the 2nd quarter valued at $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in GE Vernova in the 1st quarter valued at $458,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Finally, UBS Group set a $710.00 price objective on GE Vernova in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Up 1.3%

NYSE GEV opened at $597.59 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a market cap of $162.14 billion, a P/E ratio of 97.33, a PEG ratio of 4.46 and a beta of 1.68. The company’s 50-day simple moving average is $592.17 and its 200 day simple moving average is $569.62.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the firm posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s dividend payout ratio is 16.29%.

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.