Wesbanco Bank Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,692 shares of the company's stock after purchasing an additional 701 shares during the period. Wesbanco Bank Inc.'s holdings in GE Vernova were worth $4,485,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. FMR LLC lifted its stake in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors lifted its stake in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Norges Bank acquired a new position in shares of GE Vernova in the 4th quarter valued at $1,109,720,000. Finally, Northern Trust Corp lifted its stake in shares of GE Vernova by 15.0% in 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
GEV opened at $487.06 on Monday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72. The company has a market cap of $132.94 billion, a P/E ratio of 87.60, a PEG ratio of 3.03 and a beta of 1.97. The business's 50-day simple moving average is $389.72 and its 200-day simple moving average is $360.91.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova's payout ratio is 14.41%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating on the stock. Morgan Stanley reissued an "overweight" rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. BMO Capital Markets increased their target price on GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Guggenheim reissued a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $385.78.
Get Our Latest Stock Analysis on GEV
About GE Vernova
(
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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