Raiffeisen Bank International AG Invests $614,000 in GE Vernova Inc. (NYSE:GEV)

Raiffeisen Bank International AG purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,858 shares of the company’s stock, valued at approximately $614,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Capital International Investors boosted its stake 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 purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its position in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank acquired a new stake in GE Vernova during the 4th quarter valued at $1,109,720,000. Finally, Northern Trust Corp lifted its holdings in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after purchasing an additional 343,837 shares in the last quarter.

GE Vernova Stock Up 0.4%

Shares of GE Vernova stock opened at $428.63 on Friday. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50. The stock has a market capitalization of $116.99 billion and a P/E ratio of 77.09. The stock has a 50 day moving average price of $344.05 and a two-hundred day moving average price of $345.63.

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 business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. 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 is currently 14.41%.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Morgan Stanley restated an “overweight” rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $374.62.

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.