Vontobel Holding Ltd. Sells 886 Shares of GE Vernova Inc. (NYSE:GEV)

Vontobel Holding Ltd. reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,150 shares of the company's stock after selling 886 shares during the period. Vontobel Holding Ltd.'s holdings in GE Vernova were worth $2,793,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC lifted 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 purchasing an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised 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 valued at $67,622,000 after acquiring an additional 98,034 shares during the period. Grandview Asset Management LLC raised its holdings in GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after acquiring an additional 705 shares during the period. Oppenheimer Asset Management Inc. bought a new position in GE Vernova in the 1st quarter valued at about $328,000. Finally, GAMMA Investing LLC raised its holdings in GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after acquiring an additional 542 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Glj Research began coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating on the stock. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird increased their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Susquehanna reaffirmed a "positive" rating and set a $499.00 target price (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Finally, Citigroup lowered their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $447.29.

GE Vernova Trading Up 2.7%

GE Vernova stock traded up $13.79 during mid-day trading on Monday, reaching $530.83. The company had a trading volume of 2,265,795 shares, compared to its average volume of 3,309,276. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59. The company has a market cap of $144.88 billion, a P/E ratio of 76.49, a P/E/G ratio of 3.98 and a beta of 1.86. The business has a fifty day simple moving average of $464.41 and a 200 day simple moving average of $384.86.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

About GE Vernova

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.