Zurcher Kantonalbank Zurich Cantonalbank Sells 14,514 Shares of GE Vernova Inc. $GEV

Key Points

• Zurcher Kantonalbank trimmed its stake in GE Vernova by 8.8% in Q4, selling 14,514 shares and leaving 150,980 shares valued at about $98.7 million (0.06% ownership).
• Several large institutions materially increased positions—Capital World Investors now owns ~2.16M shares (~$1.33B) and others (SG Americas, Franklin, Raymond James, Nordea) boosted holdings—and analysts have issued multiple upgrades, leaving a consensus Buy rating with an average target of $919.48.
• GE Vernova reported a sizable earnings beat (Q EPS $13.39 vs. $2.99 est., revenue $10.96B vs. $10.21B); the stock trades near $1,002 with a market cap of $269.4B and a modest dividend yield of 0.2%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,980 shares of the company's stock after selling 14,514 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of GE Vernova worth $98,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors lifted its holdings in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company's stock worth $1,325,842,000 after buying an additional 2,048,792 shares during the period. Franklin Resources Inc. boosted its position in GE Vernova by 170.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company's stock valued at $722,956,000 after acquiring an additional 740,339 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of GE Vernova by 10,288.6% in the 4th quarter. SG Americas Securities LLC now owns 418,661 shares of the company's stock valued at $273,624,000 after acquiring an additional 414,631 shares during the period. Raymond James Financial Inc. raised its position in shares of GE Vernova by 66.0% in the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company's stock worth $499,817,000 after acquiring an additional 375,677 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of GE Vernova by 136.1% in the 3rd quarter. Nordea Investment Management AB now owns 561,213 shares of the company's stock worth $341,038,000 after acquiring an additional 323,481 shares in the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of several analyst reports. Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Morgan Stanley lifted their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research report on Monday, March 23rd. Guggenheim upgraded shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $910.00 price objective for the company in a research note on Friday, January 30th. Rothschild & Co Redburn upgraded shares of GE Vernova from a "sell" rating to a "buy" rating and raised their target price for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Finally, Glj Research lifted their price target on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a "buy" rating in a report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $919.48.

GE Vernova Trading Down 0.1%

Shares of NYSE:GEV opened at $1,001.86 on Monday. GE Vernova Inc. has a twelve month low of $306.21 and a twelve month high of $1,009.49. The company has a market cap of $269.36 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 3.92 and a beta of 1.43. The company's 50 day moving average is $870.22 and its 200 day moving average is $716.06.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 11.24%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.