LGT Group Foundation Buys 1,634 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• LGT Group Foundation has increased its stake in GE Vernova Inc. by 5.4%, acquiring an additional 1,634 shares, raising its total holdings to 31,718 shares valued at approximately $9.68 million.
• Analysts have mixed views on GEV, with a consensus rating of "Moderate Buy" and a target price range from $570.00 to $715.00, while ten analysts rated it as hold, eighteen as buy, and four as strong buy.
• GE Vernova's recent quarterly earnings report showed an EPS of $1.86, surpassing expectations, with revenue increasing by 11.1% year-over-year, totaling $9.11 billion.

LGT Group Foundation raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,718 shares of the company's stock after buying an additional 1,634 shares during the period. LGT Group Foundation's holdings in GE Vernova were worth $9,683,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Westover Capital Advisors LLC raised its position in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the period. Stonebridge Financial Group LLC increased its holdings in GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after acquiring an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after buying an additional 30 shares in the last quarter. Hemington Wealth Management grew its stake in GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after buying an additional 30 shares in the last quarter. Finally, Fulcrum Equity Management boosted its stake in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after purchasing an additional 31 shares in the last quarter.

GE Vernova Trading Down 1.5%

NYSE GEV traded down $9.38 during mid-day trading on Thursday, reaching $624.93. 2,530,489 shares of the company's stock traded hands, compared to its average volume of 3,590,485. The company has a market cap of $170.12 billion, a price-to-earnings ratio of 150.58, a P/E/G ratio of 4.54 and a beta of 1.90. The company has a fifty day simple moving average of $558.05 and a 200-day simple moving average of $429.11. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast 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 $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Bank of America increased their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Morgan Stanley raised their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. UBS Group initiated coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $560.21.

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.