M&T Bank Corp Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

M&T Bank Corp lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,092 shares of the company's stock after selling 1,638 shares during the period. M&T Bank Corp's holdings in GE Vernova were worth $13,155,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in GE Vernova during the 4th quarter valued at about $287,000. Ashton Thomas Private Wealth LLC grew its position in shares of GE Vernova by 16.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,058 shares of the company's stock valued at $348,000 after purchasing an additional 150 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of GE Vernova by 9.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 780 shares of the company's stock valued at $283,000 after purchasing an additional 70 shares in the last quarter. Finally, American Assets Inc. purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $658,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GEV shares. Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. TD Cowen dropped their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. UBS Group assumed coverage on GE Vernova in a report on Monday. They set a "buy" rating and a $614.00 price target for the company. Royal Bank Of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Finally, Barclays increased their price objective on shares of GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $451.38.

GE Vernova Price Performance

Shares of GEV stock traded up $4.87 during trading hours on Wednesday, reaching $534.87. 2,294,213 shares of the company's stock were exchanged, compared to its average volume of 3,311,099. The company's 50 day moving average is $467.60 and its two-hundred day moving average is $385.87. The company has a market cap of $145.98 billion, a P/E ratio of 77.07, a price-to-earnings-growth ratio of 4.08 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $545.30.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the company posted ($0.47) earnings per share. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is 14.41%.

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.