TIAA Trust National Association Buys 37,095 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• TIAA Trust National Association significantly increased its holdings in GE Vernova Inc. by 345.6%, acquiring an additional 37,095 shares during the first quarter.
• GE Vernova's latest earnings report revealed an EPS of $1.86, exceeding estimates, with a revenue of $9.11 billion for the quarter, marking an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, reflecting an annual yield of 0.2% and a payout ratio of 24.10%.

TIAA Trust National Association boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 345.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,830 shares of the company's stock after acquiring an additional 37,095 shares during the quarter. TIAA Trust National Association's holdings in GE Vernova were worth $14,601,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Navigoe LLC bought a new stake in GE Vernova in the 4th quarter valued at $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova in the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter valued at $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.

GE Vernova Stock Performance

Shares of GEV stock opened at $656.66 on Friday. The company has a market capitalization of $178.76 billion, a price-to-earnings ratio of 158.23, a PEG ratio of 4.54 and a beta of 1.90. The company has a 50-day simple moving average of $530.40 and a 200 day simple moving average of $415.97. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GEV shares. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Barclays lifted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Finally, TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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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