First Hawaiian Bank Invests $341,000 in GE Vernova Inc. (NYSE:GEV)

First Hawaiian Bank acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,116 shares of the company's stock, valued at approximately $341,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Capital International Investors increased its stake in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC increased its stake in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares during the last quarter. Norges Bank bought a new position in shares of GE Vernova during the 4th quarter valued at about $1,109,720,000. Finally, 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 last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $3.07 on Wednesday, hitting $489.90. The company's stock had a trading volume of 1,581,468 shares, compared to its average volume of 3,338,419. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72. The firm has a fifty day moving average price of $379.01 and a 200-day moving average price of $357.63. The company has a market capitalization of $133.71 billion, a price-to-earnings ratio of 88.11, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Guggenheim reiterated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Citigroup reduced their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $385.78.

GE Vernova 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.