10,701 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired a new position in GE Vernova Inc., purchasing 10,701 shares valued at approximately $3.27 million in the first quarter.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.16%, set to be paid on August 18th.
• The company's stock has experienced a 2.3% decline, currently trading around $632.80, with a market cap of $172.26 billion.

XTX Topco Ltd acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,701 shares of the company's stock, valued at approximately $3,267,000.

Other hedge funds have also recently modified their holdings of the company. Westover Capital Advisors LLC grew its holdings in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after acquiring an additional 25 shares during the period. Stonebridge Financial Group LLC grew its holdings in GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after purchasing an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after purchasing an additional 30 shares during the period. Fulcrum Equity Management grew its holdings in GE Vernova by 3.6% during the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after purchasing an additional 31 shares during the period. Finally, Dopkins Wealth Management LLC grew its holdings in GE Vernova by 4.9% during the first quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after purchasing an additional 31 shares during the period.

GE Vernova Stock Performance

GEV stock traded down $3.63 during midday trading on Friday, reaching $656.66. 3,074,814 shares of the company traded hands, compared to its average volume of 2,826,011. The business has a 50 day moving average of $530.40 and a 200-day moving average of $415.77. 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 price-to-earnings ratio of 158.23, a P/E/G ratio of 4.56 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend 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%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GEV. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. The Goldman Sachs Group upped their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Ten investment 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. Based on data from MarketBeat.com, GE Vernova presently has an average 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.