GE Vernova Inc. (NYSE:GEV) Holdings Boosted by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in GE Vernova Inc. by 0.1% in the 1st quarter, owning 0.28% of the company worth approximately $237 million.
• GE Vernova reported earnings of $1.86 per share, exceeding expectations, with a revenue of $9.11 billion, marking an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend of $1.00 with a yield of 0.2%, set to be paid on August 18th.

Swiss National Bank boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 777,365 shares of the company's stock after buying an additional 1,000 shares during the period. Swiss National Bank owned 0.28% of GE Vernova worth $237,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Navigoe LLC acquired a new position in GE Vernova during the 4th quarter worth $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the first quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. acquired a new position in GE Vernova in the 4th quarter worth approximately $28,000. Finally, Orion Capital Management LLC purchased a new position in GE Vernova during the 4th quarter valued at about $30,000.

GE Vernova Stock Performance

GE Vernova stock opened at $646.22 on Friday. The stock has a market cap of $175.91 billion, a P/E ratio of 155.71, a PEG ratio of 4.59 and a beta of 1.90. The firm's fifty day moving average price is $544.98 and its 200-day moving average price is $422.95. GE Vernova Inc. has a fifty-two week low of $165.05 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. TD Cowen upped their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.