Bowen Hanes & Co. Inc. Buys Shares of 176,903 GE Vernova Inc. $GEV

Key Points

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Bowen Hanes & Co. Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 176,903 shares of the company's stock, valued at approximately $54,005,000. Bowen Hanes & Co. Inc. owned approximately 0.06% of GE Vernova at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GEV. Vanguard Group Inc. lifted its stake in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after purchasing an additional 214,483 shares in the last quarter. Northern Trust Corp boosted its position in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have commented on GEV shares. JPMorgan Chase & Co. lifted their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group started coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Glj Research initiated coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Performance

Shares of GEV traded up $1.3380 during midday trading on Thursday, hitting $605.9280. 2,564,701 shares of the company traded hands, compared to its average volume of 3,563,043. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29. The firm has a 50 day moving average of $571.62 and a 200-day moving average of $437.96. The stock has a market cap of $164.95 billion, a price-to-earnings ratio of 146.01, a PEG ratio of 4.17 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The company's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's payout ratio is presently 24.10%.

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.