Zions Bancorporation National Association UT Raises Holdings in GE Vernova Inc. $GEV

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 0.6% in the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock valued at $15,259,028,000 after purchasing an additional 150,892 shares in the last quarter. State Street Corp increased its holdings in shares of GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after buying an additional 206,650 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after buying an additional 129,315 shares in the last quarter. Norges Bank bought a new position in shares of GE Vernova in the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. grew its position in GE Vernova by 26.3% in the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. Weiss Ratings upgraded shares of GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $910.00 target price for the company in a report on Friday, January 30th. Finally, TD Cowen upped their price target on shares of GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

Shares of GEV opened at $818.31 on Wednesday. The firm has a market capitalization of $220.56 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 3.19 and a beta of 1.67. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $846.00. The company has a 50-day moving average of $697.31 and a 200 day moving average of $637.51.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

About GE Vernova

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.