23,440 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. has acquired 23,440 shares of GE Vernova Inc. worth approximately $7.15 million, marking a new position in the company for the firm.
• Several major investors, including Vanguard Group and Goldman Sachs, have also increased their stakes in GE Vernova, indicating strong institutional interest.
• Wall Street analysts have raised their price targets for GE Vernova, with firms like JPMorgan Chase and Morgan Stanley setting targets as high as $715.00, reflecting positive sentiment towards the company's growth prospects.

ASR Vermogensbeheer N.V. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,440 shares of the company's stock, valued at approximately $7,156,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the period. Capital International Investors grew its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Goldman Sachs Group Inc. grew its position in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the period. Northern Trust Corp grew its position in GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after purchasing an additional 343,837 shares during the period. Finally, GAMMA Investing LLC grew its position in GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEV. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Price Performance

Shares of GEV opened at $663.81 on Thursday. The firm has a market cap of $180.70 billion, a PE ratio of 159.95, a PEG ratio of 4.49 and a beta of 1.90. The stock's fifty day moving average price is $541.50 and its two-hundred day moving average price is $421.27. GE Vernova Inc. has a 1 year low of $164.69 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

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.

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