AIA Group Ltd Sells 1,205 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• AIA Group Ltd has reduced its stake in GE Vernova Inc. by 9.2%, ending the first quarter with 11,940 shares valued at approximately $3.65 million.
• Wall Street analysts have issued a mix of ratings on GE Vernova, with price targets ranging from $544 to $736, reflecting an overall sentiment of "moderate buy".
• GE Vernova announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.2%, set to be paid out on August 18th.

AIA Group Ltd lessened its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 9.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,940 shares of the company's stock after selling 1,205 shares during the period. AIA Group Ltd's holdings in GE Vernova were worth $3,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Lockheed Martin Investment Management Co. purchased a new stake in shares of GE Vernova in the first quarter worth about $458,000. Golden State Wealth Management LLC increased its position 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 purchasing an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after acquiring an additional 98,034 shares in the last quarter. Grandview Asset Management LLC boosted its stake in GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after purchasing an additional 705 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in GE Vernova in the 1st quarter worth approximately $328,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets upped their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Susquehanna raised their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

NYSE:GEV traded down $6.35 during mid-day trading on Friday, reaching $618.92. The stock had a trading volume of 1,414,357 shares, compared to its average volume of 3,575,975. The stock has a 50-day simple moving average of $560.87 and a two-hundred day simple moving average of $431.14. The stock has a market capitalization of $168.48 billion, a PE ratio of 149.35, a P/E/G ratio of 4.38 and a beta of 1.90. GE Vernova Inc. has a 12 month low of $173.07 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Equities 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 issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

GE Vernova 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.