Mediolanum International Funds Ltd Has $17.23 Million Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Mediolanum International Funds Ltd has significantly increased its stake in GE Vernova Inc. by 1,056.3%, owning 56,889 shares valued at approximately $17.23 million as of the end of the first quarter.
• GE Vernova recently reported earnings of $1.86 EPS, exceeding analyst expectations of $1.63, alongside a revenue of $9.11 billion, a year-over-year increase of 11.1%.
• The company also announced a quarterly dividend of $0.25 per share, reflecting an annualized payout of $1.00 and a yield of 0.16%, with a payout ratio of 24.10%.

Mediolanum International Funds Ltd lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,056.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,889 shares of the company's stock after purchasing an additional 51,969 shares during the period. Mediolanum International Funds Ltd's holdings in GE Vernova were worth $17,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Navigoe LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova during the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter valued at $27,000. Orion Capital Management LLC bought a new position in GE Vernova during the fourth quarter worth $30,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the first quarter valued at $27,000.

GE Vernova Stock Performance

GE Vernova stock opened at $644.60 on Friday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $651.22. The stock has a market capitalization of $175.93 billion, a P/E ratio of 155.33, a price-to-earnings-growth ratio of 4.66 and a beta of 1.86. The stock has a fifty day moving average of $510.80 and a 200-day moving average of $406.08.

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

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 target price for the company. Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Guggenheim reiterated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $540.96.

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.

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