Skandinaviska Enskilda Banken AB publ Boosts Stock Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in GE Vernova Inc. by 1.3%, bringing its total holdings to 55,533 shares valued at approximately $16.95 million.
• Research analysts have raised their price targets for GE Vernova, with recommendations ranging from a "buy" to "overweight" rating and targets increasing up to $715.00.
• The company reported earnings of $1.86 per share for the latest quarter, exceeding analyst expectations, with quarterly revenue up 11.1% year-over-year to $9.11 billion.

Skandinaviska Enskilda Banken AB publ grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,533 shares of the company's stock after buying an additional 733 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in GE Vernova were worth $16,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Navigoe LLC acquired a new position in GE Vernova during the fourth quarter worth $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the 1st quarter valued at $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the 1st quarter valued at $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova during the 4th quarter worth about $28,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in GE Vernova during the 4th quarter worth about $30,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America upped their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday. Wells Fargo & Company increased their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Finally, TD Cowen lifted their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $540.96.

GE Vernova Trading Up 3.3%

Shares of NYSE GEV opened at $644.60 on Friday. The firm has a market cap of $175.93 billion, a PE ratio of 155.33, a PEG ratio of 4.66 and a beta of 1.86. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $651.22. The company has a fifty day moving average price of $510.80 and a 200 day moving average price of $406.08.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.16%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

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.

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