Skandinaviska Enskilda Banken AB publ Buys 733 Shares of GE Vernova Inc. (NYSE:GEV)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,533 shares of the company’s stock after purchasing an additional 733 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in GE Vernova were worth $16,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GEV. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $1,109,720,000. Capital International Investors grew its position in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC grew its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after purchasing an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. Finally, FMR LLC grew its position in shares of GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. Susquehanna increased their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday. BMO Capital Markets increased their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup increased their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Finally, Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price target for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $540.96.

GE Vernova Price Performance

Shares of NYSE GEV opened at $644.60 on Friday. The stock has a market capitalization of $175.93 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.66 and a beta of 1.86. The company has a 50-day moving average price of $510.80 and a 200-day moving average price of $406.08. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $651.22.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

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.