GE Vernova Inc. (NYSE:GEV) Shares Purchased by Keybank National Association OH

Keybank National Association OH raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,615 shares of the company's stock after buying an additional 721 shares during the period. Keybank National Association OH's holdings in GE Vernova were worth $3,241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GEV. Golden State Wealth Management LLC increased its stake in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after acquiring an additional 98,034 shares during the period. Grandview Asset Management LLC grew its stake in GE Vernova by 48.8% in the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after acquiring an additional 705 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in GE Vernova in the 1st quarter worth approximately $328,000. Finally, GAMMA Investing LLC grew its stake in GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after acquiring an additional 542 shares during the period.

GE Vernova Price Performance

Shares of NYSE:GEV traded up $13.79 during trading on Monday, reaching $530.83. 2,265,795 shares of the company's stock traded hands, compared to its average volume of 3,309,276. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $532.59. The company has a 50 day moving average of $464.41 and a 200-day moving average of $384.86. The stock has a market capitalization of $144.88 billion, a P/E ratio of 76.49, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned ($0.47) EPS. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is 14.41%.

Analyst Ratings Changes

Several analysts have commented on GEV shares. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Barclays lifted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Royal Bank Of Canada lowered their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Finally, Susquehanna reiterated a "positive" rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $447.29.

About GE Vernova

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.