Zions Bancorporation National Association UT Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Key Points

• Zions Bancorporation National Association UT has acquired a new position in GE Vernova Inc., purchasing 440 shares valued at approximately $134,000 in the first quarter.
• Several institutional investors significantly increased their holdings in GE Vernova, with Capital International Investors lifting its stake by 25.3% and TD Asset Management Inc. increasing theirs by 627.2%.
• Analysts have set new price targets for GE Vernova, with Citigroup raising it from $544.00 to $670.00 and Robert W. Baird increasing theirs from $568.00 to $706.00, reflecting a generally positive outlook.

Zions Bancorporation National Association UT acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 440 shares of the company's stock, valued at approximately $134,000.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Capital International Investors lifted its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. GAMMA Investing LLC lifted its holdings in GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. TD Asset Management Inc lifted its holdings in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after buying an additional 799,388 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after buying an additional 690,513 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after buying an additional 622,730 shares during the period.

Analysts Set New Price Targets

Several research firms have weighed in on GEV. Citigroup increased their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Glj Research assumed coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Susquehanna raised their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Trading Up 0.3%

GE Vernova stock opened at $650.75 on Tuesday. The firm has a market cap of $177.15 billion, a price-to-earnings ratio of 156.81, a PEG ratio of 4.49 and a beta of 1.90. The stock has a fifty day simple moving average of $551.84 and a two-hundred day simple moving average of $426.07. GE Vernova Inc. has a 12 month low of $173.07 and a 12 month high of $677.29.

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

GE Vernova Announces Dividend

The firm also recently announced 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 dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 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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