Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,329 shares of the company's stock after purchasing an additional 1,991 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in GE Vernova were worth $9,869,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in GE Vernova by 79.4% during the 1st 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 increased its holdings in shares of GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after purchasing an additional 705 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after purchasing an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of GE Vernova during the 1st quarter valued at approximately $328,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of GE Vernova by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company's stock valued at $9,872,000 after purchasing an additional 910 shares in the last quarter.
GE Vernova Trading Up 2.4%
GEV traded up $12.28 on Thursday, hitting $517.35. 1,809,150 shares of the company's stock were exchanged, compared to its average volume of 3,306,722. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59. The firm has a 50-day moving average price of $455.16 and a 200-day moving average price of $380.19. The stock has a market cap of $141.20 billion, a price-to-earnings ratio of 74.55, a P/E/G ratio of 3.89 and a beta of 1.86.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's payout ratio is 14.41%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GEV. Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Bank of America lifted their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Glj Research began coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average price target of $440.04.
View Our Latest Report on GE Vernova
GE Vernova 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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