GE Vernova Inc. (NYSE:GEV) Shares Purchased by Park National Corp OH

Park National Corp OH increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2,031.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,803 shares of the company's stock after purchasing an additional 39,842 shares during the period. Park National Corp OH's holdings in GE Vernova were worth $12,762,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GEV. Robert W. Baird upped their target price on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Susquehanna reissued a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Barclays increased their price objective on GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a report on Friday. Truist Financial set a $440.00 price objective on GE Vernova in a report on Thursday, March 27th. Finally, New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $385.78.

GE Vernova Stock Performance

GE Vernova stock traded up $0.39 during midday trading on Friday, reaching $471.56. The company's stock had a trading volume of 5,090,753 shares, compared to its average volume of 3,356,777. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $489.13. The stock's 50 day simple moving average is $371.84 and its 200 day simple moving average is $355.23. The firm has a market capitalization of $128.71 billion and a PE ratio of 84.81.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business earned ($0.47) earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova's payout ratio is 14.41%.

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.