Banco Santander S.A. Sells 449 Shares of 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. lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 40.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Navigoe LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the 4th quarter valued at $28,000. Finally, Orion Capital Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at $30,000.

GE Vernova Stock Performance

Shares of NYSE GEV traded up $3.08 during trading on Friday, hitting $648.94. 1,887,386 shares of the company traded hands, compared to its average volume of 2,893,177. The firm has a market capitalization of $176.65 billion, a price-to-earnings ratio of 156.37, a P/E/G ratio of 4.46 and a beta of 1.90. The business's fifty day moving average is $548.53 and its 200 day moving average is $424.55. GE Vernova Inc. has a fifty-two week low of $172.60 and a fifty-two week high of $677.29.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group began coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Finally, Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus 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.