Caitong International Asset Management Co. Ltd bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,988 shares of the company's stock, valued at approximately $912,000. GE Vernova accounts for about 0.7% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 19th biggest position.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 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 in the last quarter. Capital International Investors raised its stake in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 buying an additional 214,483 shares in the last quarter. Northern Trust Corp increased its position in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after purchasing an additional 343,837 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on GEV shares. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. TD Cowen boosted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.
Get Our Latest Stock Report on GEV
GE Vernova Price Performance
Shares of GE Vernova stock opened at $658.09 on Wednesday. The company has a market capitalization of $179.15 billion, a P/E ratio of 158.58, a P/E/G ratio of 4.50 and a beta of 1.90. The business has a 50 day moving average price of $555.12 and a 200 day moving average price of $427.68. GE Vernova Inc. has a 1 year low of $173.07 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The firm also recently disclosed 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 24.10%.
About GE Vernova
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).
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