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

Vontobel Holding Ltd. lessened its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Salomon & Ludwin LLC raised its holdings in GE Vernova by 153.5% during the first quarter. Salomon & Ludwin LLC now owns 289 shares of the company's stock worth $88,000 after acquiring an additional 175 shares in the last quarter. Mather Group LLC. raised its holdings in GE Vernova by 18.6% during the first quarter. Mather Group LLC. now owns 2,671 shares of the company's stock worth $815,000 after acquiring an additional 418 shares in the last quarter. Alta Advisers Ltd raised its holdings in GE Vernova by 43.4% during the first quarter. Alta Advisers Ltd now owns 1,322 shares of the company's stock worth $404,000 after acquiring an additional 400 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in GE Vernova during the first quarter worth about $48,000. Finally, CHURCHILL MANAGEMENT Corp raised its holdings in GE Vernova by 96.1% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 46,726 shares of the company's stock worth $14,264,000 after acquiring an additional 22,893 shares in the last quarter.

GE Vernova Price Performance

GE Vernova stock traded up $12.28 during mid-day trading on Friday, reaching $517.35. 1,809,150 shares of the company were exchanged, compared to its average volume of 3,313,458. The company has a fifty day simple moving average of $461.19 and a 200-day simple moving average of $383.19. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $532.59. The firm has a market cap of $141.20 billion, a PE ratio of 74.55, a PEG ratio of 3.98 and a beta of 1.86.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued 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%.

Analysts Set New Price Targets

Several analysts have issued reports on GEV shares. Royal Bank Of Canada dropped their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. The Goldman Sachs Group upped their price objective on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded GE Vernova from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Citigroup dropped their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $440.04.

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.