ING Groep NV Grows Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• ING Groep NV has raised its shareholding in GE Vernova Inc. by 42.2%, owning 84,473 shares valued at approximately $25.79 million as of the recent quarter.
• Several analysts have given GE Vernova a consensus rating of "Moderate Buy," with price targets ranging from $560.21 to as high as $706.00.
• GE Vernova announced a quarterly dividend of $0.25 per share, reflecting an annual yield of 0.2% and a payout ratio of 24.10%.

ING Groep NV increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 42.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,473 shares of the company's stock after buying an additional 25,065 shares during the period. ING Groep NV's holdings in GE Vernova were worth $25,788,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $27,000. Clarity Asset Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new position in GE Vernova in the first quarter valued at approximately $27,000. Orion Capital Management LLC purchased a new position in GE Vernova in the fourth quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in GE Vernova in the first quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEV. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Barclays increased their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and increased their price objective for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Down 0.5%

Shares of GEV stock opened at $656.66 on Monday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $677.29. The stock has a market cap of $178.76 billion, a P/E ratio of 158.23, a P/E/G ratio of 4.54 and a beta of 1.90. The business has a fifty day simple moving average of $530.40 and a 200-day simple moving average of $416.15.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business's revenue for the quarter 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, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

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.

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