Charles Schwab Investment Management Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,742,299 shares of the company's stock after buying an additional 62,903 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of GE Vernova worth $531,889,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Golden State Wealth Management LLC grew its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after acquiring an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after buying an additional 98,034 shares during the last quarter. Grandview Asset Management LLC increased its holdings in GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after buying an additional 705 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova in the first quarter valued at $328,000. Finally, GAMMA Investing LLC lifted its holdings in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after buying an additional 542 shares during the last quarter.
Analyst Ratings Changes
A number of research analysts have recently commented on GEV shares. Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating on the stock. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Morgan Stanley upped their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Citigroup lifted their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.
Check Out Our Latest Analysis on GEV
GE Vernova Trading Up 0.5%
Shares of GEV traded up $3.08 during trading hours on Friday, reaching $648.94. The company had a trading volume of 1,887,386 shares, compared to its average volume of 2,893,177. GE Vernova Inc. has a 12-month low of $172.60 and a 12-month high of $677.29. The firm has a 50 day simple moving average of $548.53 and a 200-day simple moving average of $424.55. The company has a market capitalization of $176.65 billion, a price-to-earnings ratio of 156.37, a PEG ratio of 4.46 and a beta of 1.90.
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, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the firm earned $4.65 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.
GE Vernova Profile
(
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.
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