First Hawaiian Bank Invests $341,000 in GE Vernova Inc. $GEV

First Hawaiian Bank acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,116 shares of the company's stock, valued at approximately $341,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GE Vernova during the first quarter worth about $912,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after acquiring an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new position in shares of GE Vernova in the 1st quarter worth approximately $458,000. Golden State Wealth Management LLC lifted its holdings in shares of GE Vernova by 201.7% in 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 during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in GE Vernova by 8.5% during the 1st quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after buying an additional 2,942 shares in the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.15% of the company's stock.

GE Vernova Stock Up 0.4%

GEV opened at $628.09 on Tuesday. GE Vernova Inc. has a 52-week low of $225.24 and a 52-week high of $677.29. The company has a 50 day moving average of $610.59 and a two-hundred day moving average of $471.14. The company has a market cap of $170.98 billion, a P/E ratio of 151.35, a P/E/G ratio of 4.32 and a beta of 1.88.

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 the consensus estimate 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 in the previous year, the firm earned $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GEV. Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Morgan Stanley lifted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Jefferies Financial Group raised their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

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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