Longbow Finance SA Has $3.42 Million Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Longbow Finance SA reduced its shares in GE Vernova Inc. (NYSE:GEV) by 58.8%, holding 11,216 shares valued at $3.42 million after selling 16,035 shares.
• Analysts have raised their target prices for GEV, with Morgan Stanley setting it at $675.00 and JPMorgan Chase at $715.00, indicating a general bullish trend with 21 buy ratings.
• GE Vernova announced a quarterly dividend of $0.25 per share, with the payout ratio currently at 14.41%, and expects to report an earnings per share of 6.59 for the fiscal year.

Longbow Finance SA decreased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 58.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,216 shares of the company's stock after selling 16,035 shares during the quarter. Longbow Finance SA's holdings in GE Vernova were worth $3,424,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. FMR LLC raised its position in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the period. Capital International Investors raised its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised its position in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Norges Bank acquired a new stake in GE Vernova in the 4th quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp raised its position in GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV stock traded down $13.18 during trading hours on Tuesday, reaching $634.48. The stock had a trading volume of 1,673,243 shares, compared to its average volume of 3,678,673. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $655.65. The firm has a 50-day simple moving average of $514.85 and a 200-day simple moving average of $408.60. The firm has a market capitalization of $172.72 billion, a PE ratio of 153.06, a price-to-earnings-growth ratio of 4.57 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the company earned $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is 24.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and increased their price target for the stock 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 issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $560.21.

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.