GE Vernova Inc. (NYSE:GEV) Shares Bought by Virtu Financial LLC

Key Points

• Virtu Financial LLC increased its stake in GE Vernova Inc. by 111.6% during the first quarter, owning 19,166 shares valued at approximately $5.85 million after a significant purchase of over 10,000 shares.
• GE Vernova reported an earnings per share (EPS) of $1.86 for the latest quarter, exceeding expectations, with revenue of $9.11 billion, an 11.1% increase year-over-year.
• The company declared a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.2%, set to be paid to investors on August 18th.

Virtu Financial LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 111.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,166 shares of the company's stock after buying an additional 10,108 shares during the period. Virtu Financial LLC's holdings in GE Vernova were worth $5,851,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GEV. Vanguard Group Inc. lifted its stake in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after purchasing an additional 432,830 shares in the last quarter. Capital International Investors raised its position in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. Goldman Sachs Group Inc. raised its position in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares during the period. Northern Trust Corp raised 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 buying an additional 343,837 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the period.

GE Vernova Stock Up 0.5%

NYSE:GEV opened at $648.94 on Friday. The company has a fifty day simple moving average of $548.53 and a two-hundred day simple moving average of $424.54. The company has a market cap of $176.65 billion, a price-to-earnings ratio of 156.37, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90. GE Vernova Inc. has a 52 week low of $172.60 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research report on Monday, July 28th. Citigroup lifted their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.