OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 688 shares of the company's stock, valued at approximately $210,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Apollon Wealth Management LLC lifted its position in GE Vernova by 225.9% during the first quarter. Apollon Wealth Management LLC now owns 25,848 shares of the company's stock valued at $7,891,000 after purchasing an additional 17,916 shares during the period. Sigma Planning Corp lifted its position in GE Vernova by 161.8% during the first quarter. Sigma Planning Corp now owns 11,105 shares of the company's stock valued at $3,390,000 after purchasing an additional 6,864 shares during the period. Catalyst Financial Partners LLC lifted its position in GE Vernova by 7.0% during the first quarter. Catalyst Financial Partners LLC now owns 1,545 shares of the company's stock valued at $472,000 after purchasing an additional 101 shares during the period. Bleakley Financial Group LLC lifted its position in GE Vernova by 8.0% during the first quarter. Bleakley Financial Group LLC now owns 10,773 shares of the company's stock valued at $3,289,000 after purchasing an additional 794 shares during the period. Finally, TFR Capital LLC. acquired a new position in GE Vernova during the first quarter valued at $1,431,000.
GE Vernova Stock Up 1.8%
NYSE:GEV traded up $9.83 on Thursday, hitting $571.00. The stock had a trading volume of 2,567,637 shares, compared to its average volume of 3,307,164. The stock has a market cap of $155.84 billion, a price-to-earnings ratio of 151.67, a PEG ratio of 4.18 and a beta of 1.86. The company has a fifty day moving average price of $486.23 and a two-hundred day moving average price of $394.06. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $581.04.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business posted ($0.47) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. GE Vernova's dividend payout ratio is currently 14.41%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $468.88.
Check Out Our Latest Report on GE Vernova
GE Vernova Company Profile
(
Free Report)
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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