J. Safra Sarasin Holding AG lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,845 shares of the company's stock after selling 1,495 shares during the period. J. Safra Sarasin Holding AG's holdings in GE Vernova were worth $4,837,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $28,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $30,000.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on GEV shares. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective on the stock. in a research note on Monday, July 28th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Barclays upped their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Bank of America increased their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.
View Our Latest Analysis on GE Vernova
GE Vernova Trading Down 0.5%
GEV opened at $656.66 on Friday. The company has a fifty day simple moving average of $530.40 and a 200 day simple moving average of $415.97. The firm has a market cap of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.54 and a beta of 1.90. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month 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 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 analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.
About GE Vernova
(
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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