GE Vernova Inc. $GEV Shares Acquired by Norinchukin Bank The

Key Points

• Norinchukin Bank has increased its stake in GE Vernova Inc. by 15.2%, owning a total of 14,184 shares valued at approximately $4.33 million after acquiring an additional 1,874 shares in the first quarter.
• GE Vernova reported a quarterly EPS of $1.86, surpassing analyst expectations of $1.63, and demonstrated a year-over-year revenue increase of 11.1% to $9.11 billion.
• The company's latest dividend announcement reflects a dividend yield of 0.2%, with a quarterly dividend of $0.25 per share, indicating a payout ratio of 24.10%.

Norinchukin Bank The lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 15.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,184 shares of the company's stock after buying an additional 1,874 shares during the quarter. Norinchukin Bank The's holdings in GE Vernova were worth $4,330,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova in the 1st quarter valued at about $912,000. Resona Asset Management Co. Ltd. increased its stake in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $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 during the 1st quarter valued at about $458,000. Golden State Wealth Management LLC increased its stake in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of GE Vernova by 8.5% during the 1st quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock valued at $11,485,000 after acquiring an additional 2,942 shares during the last quarter.

GE Vernova Stock Up 0.2%

Shares of GEV opened at $605.9280 on Friday. The business's 50 day moving average is $574.01 and its two-hundred day moving average is $439.65. GE Vernova Inc. has a 52-week low of $173.07 and a 52-week high of $677.29. The firm has a market cap of $164.95 billion, a price-to-earnings ratio of 146.01, a PEG ratio of 4.18 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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 return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the company posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Bank of America boosted their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. BMO Capital Markets upped their price target on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Susquehanna upped their price target on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, GE Vernova presently has an average 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.

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