Raymond James Financial Inc. cut its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 568,890 shares of the company's stock after selling 97,472 shares during the period. Raymond James Financial Inc. owned about 0.21% of GE Vernova worth $173,671,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GEV. Brighton Jones LLC increased its position 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 period. American Assets Inc. bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $658,000. Guggenheim Capital LLC increased its position in shares of GE Vernova by 63.5% during the fourth quarter. Guggenheim Capital LLC now owns 6,077 shares of the company's stock valued at $1,999,000 after purchasing an additional 2,361 shares during the period. GeoWealth Management LLC increased its position in shares of GE Vernova by 22.4% during the fourth quarter. GeoWealth Management LLC now owns 2,448 shares of the company's stock valued at $805,000 after purchasing an additional 448 shares during the period. Finally, First Trust Advisors LP increased its position in shares of GE Vernova by 12.6% during the fourth quarter. First Trust Advisors LP now owns 174,149 shares of the company's stock valued at $57,283,000 after purchasing an additional 19,531 shares during the period.
GE Vernova Stock Performance
GE Vernova stock traded up $1.8940 on Wednesday, reaching $605.0240. The company's stock had a trading volume of 2,805,894 shares, compared to its average volume of 3,563,729. The company has a market cap of $164.70 billion, a price-to-earnings ratio of 146.00, a PEG ratio of 4.32 and a beta of 1.90. The business's fifty day moving average price is $569.18 and its 200 day moving average price is $436.80. GE Vernova Inc. has a twelve month low of $173.07 and a twelve month 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 (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid 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 24.10%.
Analyst Ratings Changes
Several analysts recently commented on GEV shares. TD Cowen boosted their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Susquehanna increased their target price on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $560.21.
Check Out Our Latest Report on GE Vernova
GE Vernova Company Profile
(
Free Report)
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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