Banco Santander S.A. Decreases Stake in GE Vernova Inc. (NYSE:GEV)

Key Points

• Banco Santander S.A. has decreased its holdings in GE Vernova Inc. by 40.2% in the first quarter, now owning 669 shares worth $204,000.
• GE Vernova reported $1.86 earnings per share for the quarter, exceeding analysts' expectations, with revenue of $9.11 billion, up 11.1% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 0.2%.

Banco Santander S.A. decreased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 40.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 669 shares of the company's stock after selling 449 shares during the period. Banco Santander S.A.'s holdings in GE Vernova were worth $204,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GEV. Westover Capital Advisors LLC boosted its holdings in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares during the period. Stonebridge Financial Group LLC raised its position in GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after acquiring an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after acquiring an additional 30 shares in the last quarter. Fulcrum Equity Management raised its position in shares of GE Vernova by 3.6% in the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after purchasing an additional 31 shares during the period. Finally, Dopkins Wealth Management LLC raised its position in shares of GE Vernova by 4.9% in the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after purchasing an additional 31 shares during the period.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. 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. Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

Shares of GE Vernova stock traded down $18.33 during midday trading on Thursday, reaching $646.22. The company had a trading volume of 2,236,279 shares, compared to its average volume of 2,906,713. The stock has a fifty day moving average price of $544.98 and a 200 day moving average price of $422.95. The firm has a market cap of $175.91 billion, a PE ratio of 155.71, a P/E/G ratio of 4.59 and a beta of 1.90. GE Vernova Inc. has a fifty-two week low of $165.05 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 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.