US Bancorp DE Purchases 3,235 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• US Bancorp DE increased its holdings in GE Vernova Inc. by 3.5% during the first quarter, bringing their total ownership to 96,452 shares valued at approximately $29.4 million.
• GE Vernova reported an earnings per share (EPS) of $1.86 for the latest quarter, exceeding analyst expectations and marking an 11.1% revenue growth compared to the same quarter last year.
• The company declared a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.2%, reflecting a payout ratio of 24.1%.

US Bancorp DE grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,452 shares of the company's stock after purchasing an additional 3,235 shares during the period. US Bancorp DE's holdings in GE Vernova were worth $29,445,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. American Assets Inc. bought a new stake in shares of GE Vernova in the 4th quarter valued at about $658,000. Nicolet Advisory Services LLC lifted its stake in shares of GE Vernova by 3.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,023 shares of the company's stock valued at $336,000 after acquiring an additional 38 shares during the last quarter. World Investment Advisors lifted its stake in shares of GE Vernova by 7.6% in the 4th quarter. World Investment Advisors now owns 3,096 shares of the company's stock valued at $1,018,000 after acquiring an additional 220 shares during the last quarter. Finally, Prudential PLC lifted its stake in shares of GE Vernova by 24.4% in the 4th quarter. Prudential PLC now owns 4,637 shares of the company's stock valued at $1,525,000 after acquiring an additional 910 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $656.66 on Friday. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $677.29. The firm has a market capitalization of $178.76 billion, a P/E ratio of 158.23, a P/E/G ratio of 4.54 and a beta of 1.90. The stock has a 50 day moving average price of $530.40 and a 200-day moving average price of $415.97.

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

GE Vernova Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Wells Fargo & Company boosted their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $560.21.

About GE Vernova

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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