Allianz SE Decreases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• Allianz SE dramatically reduced its stake in GE Vernova Inc. by 95.2%, leaving it with only 170 shares after selling 3,353 shares in Q1, representing a total value of $52,000.
• Analysts have recently upgraded their ratings and price targets for GE Vernova, with firms like Robert W. Baird and JPMorgan Chase raising their targets significantly, now ranging from $706.00 to $715.00.
• GE Vernova reported a quarterly earnings per share of $1.86, exceeding analysts' expectations and reflecting an 11.1% year-over-year revenue increase to $9.11 billion.

Allianz SE decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 95.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170 shares of the company's stock after selling 3,353 shares during the quarter. Allianz SE's holdings in GE Vernova were worth $52,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Navigoe LLC purchased a new stake in GE Vernova during the fourth quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova during the first quarter valued at $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the first quarter valued at $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova during the fourth quarter valued at $28,000. Finally, Orion Capital Management LLC purchased a new stake in GE Vernova during the fourth quarter valued at $30,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEV. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Finally, BMO Capital Markets lifted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Ten investment 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $663.25 on Tuesday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $677.29. The firm's 50-day moving average is $534.36 and its two-hundred day moving average is $417.97. The stock has a market cap of $180.55 billion, a price-to-earnings ratio of 159.82, a PEG ratio of 4.54 and a beta of 1.90.

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, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the business earned $4.65 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend 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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