Commerce Bank Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Commerce Bank grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,300 shares of the company's stock after purchasing an additional 790 shares during the period. Commerce Bank's holdings in GE Vernova were worth $3,755,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GEV. Brighton Jones LLC lifted its holdings in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. American Assets Inc. bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $658,000. World Investment Advisors increased its position in shares of GE Vernova by 7.6% during the fourth quarter. World Investment Advisors now owns 3,096 shares of the company's stock valued at $1,018,000 after acquiring an additional 220 shares in the last quarter. Prudential PLC increased its position in shares of GE Vernova by 24.4% during the fourth quarter. Prudential PLC now owns 4,637 shares of the company's stock valued at $1,525,000 after acquiring an additional 910 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of GE Vernova by 10.7% during the fourth quarter. Wells Fargo & Company MN now owns 517,163 shares of the company's stock valued at $170,110,000 after acquiring an additional 49,777 shares in the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $656.66 on Monday. The company's fifty day simple moving average is $530.40 and its 200-day simple moving average is $416.15. The stock has a market capitalization of $178.76 billion, a PE ratio of 158.23, a P/E/G ratio of 4.54 and a beta of 1.90. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. 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 payout ratio is 24.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GEV shares. Robert W. Baird raised their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Bank of America raised their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Finally, Morgan Stanley raised their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

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.

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