E Fund Management Co. Ltd. lessened its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 82.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 869 shares of the company's stock after selling 4,083 shares during the period. E Fund Management Co. Ltd.'s holdings in GE Vernova were worth $265,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Navigoe LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth $27,000. Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova during the fourth quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the first quarter worth $27,000. Orion Capital Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth $30,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter worth $27,000.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on GEV. BMO Capital Markets boosted their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group boosted their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.
Read Our Latest Analysis on GEV
GE Vernova Stock Performance
GEV opened at $624.93 on Friday. The company has a market cap of $170.12 billion, a PE ratio of 150.58, a price-to-earnings-growth ratio of 4.38 and a beta of 1.90. The stock has a 50-day moving average of $560.87 and a 200-day moving average of $431.14. GE Vernova Inc. has a 52-week low of $173.07 and a 52-week high of $677.29.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.65 EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is 24.10%.
GE Vernova Company Profile
(
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.
Further Reading
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