Banque Transatlantique SA Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Banque Transatlantique SA bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,183 shares of the company's stock, valued at approximately $387,000.

Several other hedge funds have also modified their holdings of GEV. Norges Bank purchased a new position in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Capital International Investors raised 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 acquiring an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in GE Vernova by 1,638.5% during 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 raised its stake 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 purchasing an additional 814,155 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the fourth quarter worth $219,187,000.

GE Vernova Price Performance

Shares of GEV stock traded up $5.71 during trading on Wednesday, hitting $406.94. 2,488,560 shares of the stock traded hands, compared to its average volume of 3,322,817. The firm has a market capitalization of $111.07 billion and a P/E ratio of 73.19. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50. The firm's fifty day moving average price is $325.61 and its 200-day moving average price is $338.49.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Analyst Ratings Changes

GEV has been the topic of several recent research reports. Citigroup lowered their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Bank of America upped their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Jefferies Financial Group raised their price objective on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $369.22.

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.