S Bank Fund Management Ltd Takes $2.94 Million Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• S Bank Fund Management Ltd has acquired a new stake in GE Vernova Inc., purchasing 9,644 shares valued at approximately $2.94 million during the first quarter.
• Research analysts have given GE Vernova a consensus rating of "Moderate Buy", with a target price of $560.21, following various upgrades and a downgrade among notable firms.
• The company recently declared a quarterly dividend of $0.25 per share, representing an annual yield of 0.2%, with a payout ratio of 24.10%.

S Bank Fund Management 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 and Exchange Commission (SEC). The firm acquired 9,644 shares of the company's stock, valued at approximately $2,944,000.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on GEV shares. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. UBS Group assumed coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price target on the stock. TD Cowen boosted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Trading Up 1.1%

GE Vernova stock opened at $658.09 on Wednesday. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29. The firm has a market capitalization of $179.15 billion, a price-to-earnings ratio of 158.58, a price-to-earnings-growth ratio of 4.50 and a beta of 1.90. The firm's fifty day moving average price is $555.12 and its two-hundred day moving average price is $427.68.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating 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 company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the firm earned $4.65 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 24.10%.

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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