M&T Bank Corp Has $13.16 Million Stake in GE Vernova Inc. (NYSE:GEV)

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

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake 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 valued at $67,622,000 after buying an additional 98,034 shares during the last quarter. Grandview Asset Management LLC grew its position 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 last quarter. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova in the 1st quarter worth $328,000. Finally, GAMMA Investing LLC grew its position in GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after purchasing an additional 542 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE GEV traded down $0.41 during trading on Friday, reaching $538.95. The company had a trading volume of 2,285,744 shares, compared to its average volume of 3,315,720. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $546.36. The stock has a market cap of $147.10 billion, a PE ratio of 77.66, a PEG ratio of 4.13 and a beta of 1.86. The business's 50 day moving average price is $474.02 and its 200-day moving average price is $388.24.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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. 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 the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted ($0.47) earnings per share. The company's revenue was up 10.6% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is presently 14.41%.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. UBS Group initiated coverage on shares of GE Vernova in a research report on Monday. They issued a "buy" rating and a $614.00 price target on the stock. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $451.38.

GE Vernova Company 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.