GE Vernova Inc. (NYSE:GEV) Plans Quarterly Dividend of $0.50

GE Vernova Inc. (NYSE:GEV) announced a quarterly dividend on Tuesday, December 9th. Shareholders of record on Monday, January 5th will be given a dividend of 0.50 per share on Monday, February 2nd. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a 100.0% increase from GE Vernova’s previous quarterly dividend of $0.25.

GE Vernova Trading Up 9.3%

Shares of NYSE GEV traded up $58.29 on Wednesday, reaching $683.59. 4,745,546 shares of the company traded hands, compared to its average volume of 3,366,920. The company has a 50 day moving average of $591.25 and a 200 day moving average of $578.74. GE Vernova has a fifty-two week low of $252.25 and a fifty-two week high of $725.00. The stock has a market capitalization of $185.47 billion, a PE ratio of 111.18, a P/E/G ratio of 4.63 and a beta of 1.71.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. As a group, research analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

Institutional Investors Weigh In On GE Vernova

A number of large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova during the first quarter worth approximately $912,000. Pines Wealth Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $408,000. Resona Asset Management Co. Ltd. boosted its stake in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after acquiring an additional 6,551 shares during the period. Dupree Financial Group LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $253,000. Finally, International Assets Investment Management LLC increased its holdings in shares of GE Vernova by 18.8% during the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after acquiring an additional 619 shares during the last quarter.

GE Vernova Company 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.