Jefferies Financial Group Inc. Buys 10,139 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Jefferies Financial Group Inc. increased its holdings in GE Vernova Inc. by 14.5%, owning 80,158 shares worth approximately $24.47 million by the end of the first quarter.
• Several other investors also boosted their stakes, including Massachusetts Financial Services Co., which increased its holdings by an impressive 1,638.5% during the previous quarter.
• GE Vernova announced a quarterly dividend of $0.25 per share, translating to an annual yield of 0.2% and a payout ratio of 24.10%.

Jefferies Financial Group Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,158 shares of the company's stock after purchasing an additional 10,139 shares during the period. Jefferies Financial Group Inc.'s holdings in GE Vernova were worth $24,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors grew its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Northern Trust Corp grew its holdings in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after purchasing an additional 343,837 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GEV. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Citigroup raised their target price on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Performance

NYSE:GEV traded down $3.63 on Friday, hitting $656.66. 3,074,814 shares of the stock were exchanged, compared to its average volume of 2,826,011. The stock has a market capitalization of $178.76 billion, a price-to-earnings ratio of 158.23, a P/E/G ratio of 4.56 and a beta of 1.90. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $677.29. The company's 50-day moving average price is $530.40 and its 200 day moving average price is $415.77.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the firm earned $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is presently 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.