732,299 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 732,299 shares of GE Vernova Inc. valued at approximately $223,556,000 during the first quarter, representing about 0.27% ownership of the company.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, surpassing analysts' expectations of $1.63, and had revenues of $9.11 billion for the quarter.
• The company announced a quarterly dividend of $0.25 per share, with the dividend yield set at 0.2%, to be paid on August 18th.

Nuveen LLC purchased 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 filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 732,299 shares of the company's stock, valued at approximately $223,556,000. Nuveen LLC owned approximately 0.27% of GE Vernova at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Aigen Investment Management LP grew its holdings in GE Vernova by 81.3% during the first quarter. Aigen Investment Management LP now owns 3,131 shares of the company's stock worth $956,000 after buying an additional 1,404 shares in the last quarter. Virtu Financial LLC grew its holdings in GE Vernova by 111.6% during the first quarter. Virtu Financial LLC now owns 19,166 shares of the company's stock worth $5,851,000 after buying an additional 10,108 shares in the last quarter. Entropy Technologies LP grew its stake in GE Vernova by 4.6% in the 1st quarter. Entropy Technologies LP now owns 15,779 shares of the company's stock valued at $4,817,000 after purchasing an additional 689 shares during the period. Invesco Ltd. grew its stake in GE Vernova by 12.9% in the 1st quarter. Invesco Ltd. now owns 1,755,219 shares of the company's stock valued at $535,833,000 after purchasing an additional 199,944 shares during the period. Finally, Berger Financial Group Inc grew its stake in GE Vernova by 11.6% in the 1st quarter. Berger Financial Group Inc now owns 888 shares of the company's stock valued at $271,000 after purchasing an additional 92 shares during the period.

GE Vernova Trading Up 0.5%

Shares of GE Vernova stock opened at $648.94 on Monday. The firm has a market capitalization of $176.65 billion, a PE ratio of 156.37, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90. The business's 50-day moving average price is $548.53 and its 200-day moving average price is $424.45. GE Vernova Inc. has a 12 month low of $172.60 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 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 company's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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 given a dividend of $0.25 per share. 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 dividend payout ratio is 24.10%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GEV shares. Morgan Stanley upped their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and increased their price target for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Wells Fargo & Company increased their price target on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average target price of $560.21.

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.

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