Zions Bancorporation National Association UT Acquires 878 Shares of GE Vernova Inc. $GEV

Zions Bancorporation National Association UT lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 184.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,355 shares of the company’s stock after purchasing an additional 878 shares during the period. Zions Bancorporation National Association UT’s holdings in GE Vernova were worth $833,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in GE Vernova during the second quarter worth $1,809,220,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after purchasing an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of GE Vernova by 771.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after purchasing an additional 675,629 shares during the last quarter. Invesco Ltd. boosted its position in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in GE Vernova by 66.0% in the second quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock valued at $499,817,000 after purchasing an additional 375,677 shares during the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $818.31 on Wednesday. The firm has a market capitalization of $220.56 billion, a P/E ratio of 45.97, a PEG ratio of 3.19 and a beta of 1.67. The stock has a 50-day simple moving average of $697.31 and a two-hundred day simple moving average of $637.51. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $846.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same period last year, the business earned $1.73 earnings per share. GE Vernova’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analyst Weigh In

Several analysts have commented on GEV shares. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. UBS Group restated a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Royal Bank Of Canada upped their price target on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company increased their price objective on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

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.