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

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Capital International Investors boosted its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. GAMMA Investing LLC raised its holdings in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after acquiring an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the period. Finally, FMR LLC raised its holdings in GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the period.

GE Vernova Trading Up 0.7%

Shares of GEV traded up $3.63 during mid-day trading on Thursday, reaching $539.40. The company's stock had a trading volume of 2,505,735 shares, compared to its average volume of 3,313,909. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $545.63. The company's fifty day moving average price is $470.87 and its two-hundred day moving average price is $386.90. The stock has a market cap of $147.22 billion, a PE ratio of 77.72, a P/E/G ratio of 4.08 and a beta of 1.86.

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

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's payout ratio is 14.41%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of analyst reports. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Guggenheim reaffirmed a "buy" rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Citigroup decreased their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. BMO Capital Markets raised their price target on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, TD Cowen decreased their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $451.38.

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.