OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 688 GE Vernova Inc. (NYSE:GEV)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired 688 shares of GE Vernova Inc., valued at approximately $210,000, during the first quarter.
• GE Vernova recently reported an EPS of $1.86 for the quarter, exceeding analysts' expectations of $1.63, and showed an 11.1% increase in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $0.25, with a payout ratio of 24.10%, to be paid on August 18th, targeting its shareholders as of July 21st.

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 688 shares of the company's stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after purchasing an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GE Vernova by 79.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after buying an additional 98,034 shares during the last quarter. Grandview Asset Management LLC raised its position in GE Vernova by 48.8% in the first 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. bought a new stake in GE Vernova in the first quarter worth about $328,000. Finally, GAMMA Investing LLC raised its position in GE Vernova by 8.4% in the first 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

GEV stock opened at $656.66 on Monday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $677.29. The stock has a market cap of $178.76 billion, a PE ratio of 158.23, a P/E/G ratio of 4.54 and a beta of 1.90. The firm has a 50 day simple moving average of $530.40 and a two-hundred day simple moving average of $416.15.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

Analysts Set New Price Targets

Several analysts have commented on GEV shares. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. TD Cowen lifted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Company 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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