Northern Trust Corp Purchases 1,457 Shares of GE Vernova Inc. $GEV

Key Points

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Northern Trust Corp grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,631,579 shares of the company's stock after acquiring an additional 1,457 shares during the period. Northern Trust Corp owned 0.96% of GE Vernova worth $803,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after acquiring an additional 214,483 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after purchasing an additional 622,730 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of GE Vernova by 12.9% in the 1st quarter. Invesco Ltd. now owns 1,755,219 shares of the company's stock valued at $535,833,000 after purchasing an additional 199,944 shares during the last quarter.

GE Vernova Stock Up 0.3%

NYSE GEV traded up $1.7290 during trading hours on Wednesday, hitting $604.8590. The company's stock had a trading volume of 3,569,238 shares, compared to its average volume of 3,569,323. The stock has a fifty day moving average of $569.18 and a 200 day moving average of $436.80. GE Vernova Inc. has a twelve month low of $173.07 and a twelve month high of $677.29. The firm has a market capitalization of $164.66 billion, a P/E ratio of 145.75, a PEG ratio of 4.32 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the business posted $4.65 earnings per share. GE Vernova's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group initiated 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 for the company. Citigroup boosted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Barclays upped their target price on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.