Raiffeisen Bank International AG Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Raiffeisen Bank International AG purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,858 shares of the company’s stock, valued at approximately $614,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Norges Bank bought a new stake in shares of GE Vernova in the fourth quarter valued at about $1,109,720,000. Capital International Investors raised 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 valued at $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the period. FMR LLC grew its holdings 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. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock valued at $379,974,000 after purchasing an additional 690,513 shares during the period.

GE Vernova Trading Up 0.4%

Shares of GEV stock opened at $428.63 on Friday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $447.50. The firm’s 50 day moving average is $344.05 and its 200-day moving average is $345.63. The firm has a market capitalization of $116.99 billion and a price-to-earnings ratio of 77.09.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. On average, equities research analysts forecast 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 was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group raised their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. BMO Capital Markets lowered their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Guggenheim restated a “buy” rating and set a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Finally, CICC Research initiated coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.62.

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.