National Pension Service increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,449 shares of the company's stock after acquiring an additional 21,154 shares during the period. National Pension Service owned approximately 0.18% of GE Vernova worth $147,587,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of GEV. Navigoe LLC acquired a new position in GE Vernova in the 4th quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter valued at $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter valued at $27,000. Clarity Asset Management Inc. acquired a new position in GE Vernova in the 4th quarter valued at $28,000. Finally, Orion Capital Management LLC acquired a new position in GE Vernova in the 4th quarter valued at $30,000.
GE Vernova Trading Down 0.7%
NYSE:GEV traded down $4.07 during mid-day trading on Friday, hitting $621.20. The company's stock had a trading volume of 2,485,806 shares, compared to its average volume of 3,583,387. GE Vernova Inc. has a fifty-two week low of $173.07 and a fifty-two week high of $677.29. The company has a market capitalization of $169.10 billion, a price-to-earnings ratio of 149.69, a P/E/G ratio of 4.38 and a beta of 1.90. The stock has a fifty day moving average of $560.87 and a 200-day moving average of $431.14.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $4.65 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
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 of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio is 24.10%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Glj Research assumed coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Robert W. Baird upped their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Citigroup upped their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $560.21.
Get Our Latest Stock Analysis on GE Vernova
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.
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