Deutsche Bank AG Raises Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• Deutsche Bank AG has significantly increased its stake in GE Vernova Inc. by 56.6%, owning approximately $229.88 million worth of shares after buying an additional 272,066 shares in the first quarter.
• GE Vernova reported quarterly earnings of $1.86 EPS, which exceeded analysts' expectations, and its revenue increased by 11.1% year-over-year, totaling $9.11 billion.
• The company declared a quarterly dividend of $0.25 to be paid in August, resulting in an annualized dividend yield of 0.2% and a payout ratio of 24.10%.

Deutsche Bank AG grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,998 shares of the company's stock after purchasing an additional 272,066 shares during the quarter. Deutsche Bank AG owned approximately 0.28% of GE Vernova worth $229,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter worth $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the 1st quarter worth $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the 1st quarter worth $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the 4th quarter worth $28,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth $30,000.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $3.08 on Friday, reaching $648.94. 1,887,386 shares of the company were exchanged, compared to its average volume of 2,893,177. GE Vernova Inc. has a 1-year low of $172.60 and a 1-year high of $677.29. The company has a market cap of $176.65 billion, a P/E ratio of 156.37, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90. The stock's 50 day moving average price is $548.53 and its 200-day moving average price is $424.54.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.65 earnings per share. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company 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. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEV shares. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird boosted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating on the stock. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Susquehanna boosted their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

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.