Auto Owners Insurance Co trimmed its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 77.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,952 shares of the company's stock after selling 114,661 shares during the period. Auto Owners Insurance Co's holdings in GE Vernova were worth $10,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Navigoe LLC purchased a new stake in GE Vernova in the 4th quarter valued at about $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the 4th quarter valued at about $28,000. Orion Capital Management LLC purchased a new stake in GE Vernova in the 4th quarter valued at about $30,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the 1st quarter valued at about $27,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in GE Vernova in the 4th quarter valued at about $30,000.
GE Vernova Trading Up 3.3%
Shares of NYSE GEV traded up $20.63 during midday trading on Friday, reaching $644.60. The company had a trading volume of 3,598,352 shares, compared to its average volume of 3,205,434. The business's 50-day simple moving average is $510.80 and its 200 day simple moving average is $406.08. The stock has a market cap of $175.93 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $651.22.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 earnings per share. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The business also recently announced 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. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. GE Vernova's dividend payout ratio (DPR) is 24.10%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and upped their price target for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday. UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $540.96.
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About GE Vernova
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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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