Assenagon Asset Management S.A. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 98.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,304 shares of the company's stock after selling 609,255 shares during the period. Assenagon Asset Management S.A.'s holdings in GE Vernova were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC raised its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Navigoe LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $30,000.
GE Vernova Price Performance
Shares of NYSE GEV opened at $487.69 on Tuesday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $500.72. The company has a market capitalization of $133.11 billion, a price-to-earnings ratio of 87.71, a PEG ratio of 3.03 and a beta of 1.97. The business has a 50-day moving average of $412.15 and a 200-day moving average of $366.91.
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 for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is 14.41%.
Analyst Ratings Changes
Several research analysts recently issued reports on GEV shares. Barclays lifted their price objective on GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Citigroup cut their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Bank of America increased their price objective on GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Robert W. Baird boosted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $404.56.
View Our Latest Report 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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