Banque Cantonale Vaudoise Invests $962,000 in GE Vernova Inc. (NYSE:GEV)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in GE Vernova Inc., purchasing 3,152 shares valued at approximately $962,000 during the first quarter.
• GE Vernova's stock has shown a significant growth potential with a current market cap of $179.86 billion and an increase of 11.1% in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.25, translating to an annualized dividend of $1.00 with a yield of 0.2%, reflecting a payout ratio of 24.10%.

Banque Cantonale Vaudoise acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,152 shares of the company's stock, valued at approximately $962,000.

Several other large investors have also recently added to or reduced their stakes in GEV. Navigoe LLC bought a new position in GE Vernova during the 4th quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $30,000.

GE Vernova Trading Down 0.5%

NYSE:GEV traded down $3.63 during trading hours on Friday, reaching $656.66. The company had a trading volume of 3,074,814 shares, compared to its average volume of 2,826,011. The firm's 50 day moving average price is $530.40 and its 200-day moving average price is $415.77. The firm has a market cap of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.56 and a beta of 1.90. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $677.29.

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

GE Vernova Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is currently 24.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GEV. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday. Wells Fargo & Company upped their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

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.