BOCHK Asset Management Ltd Cuts Position in GE Vernova Inc. (NYSE:GEV)

BOCHK Asset Management Ltd trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,500 shares of the company's stock after selling 5,080 shares during the period. GE Vernova makes up 5.2% of BOCHK Asset Management Ltd's portfolio, making the stock its 9th biggest position. BOCHK Asset Management Ltd's holdings in GE Vernova were worth $9,311,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC lifted its position in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares during the last quarter. Fulcrum Equity Management raised its position in shares of GE Vernova by 3.6% during the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after buying an additional 31 shares in the last quarter. Dopkins Wealth Management LLC raised its position in shares of GE Vernova by 4.9% during the 1st quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock worth $204,000 after buying an additional 31 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of GE Vernova by 1.7% in the 1st quarter. Rothschild Investment LLC now owns 1,965 shares of the company's stock worth $600,000 after purchasing an additional 33 shares in the last quarter. Finally, Johnson & White Wealth Management LLC raised its holdings in shares of GE Vernova by 3.7% in the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company's stock worth $284,000 after purchasing an additional 33 shares in the last quarter.

GE Vernova Trading Up 2.1%

Shares of NYSE:GEV traded up $11.03 during trading on Wednesday, hitting $541.03. 1,194,182 shares of the company's stock were exchanged, compared to its average volume of 3,306,881. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $545.30. The firm has a 50-day moving average price of $467.60 and a two-hundred day moving average price of $385.87. The firm has a market cap of $147.66 billion, a P/E ratio of 78.00, a PEG ratio of 4.08 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.47) earnings per share. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared 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 0.18%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GEV shares. Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Guggenheim reissued a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Glj Research assumed coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $451.38.

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.