Eagle Global Advisors LLC Purchases Shares of 26,800 GE Vernova Inc. (NYSE:GEV)

Eagle Global Advisors LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,800 shares of the company's stock, valued at approximately $8,815,000.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Capital International Investors grew its holdings in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after buying an additional 1,238,690 shares during the last quarter. FMR LLC raised its holdings in GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in GE Vernova in the 4th quarter worth about $219,187,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on GEV shares. Morgan Stanley reaffirmed an "overweight" rating and set a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating on the stock. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Six research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $369.22.

GE Vernova Stock Performance

GEV stock traded up $17.42 during midday trading on Monday, reaching $416.68. 1,698,445 shares of the company were exchanged, compared to its average volume of 3,308,174. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $447.50. The company has a market cap of $113.73 billion and a price-to-earnings ratio of 74.98. The stock's 50-day simple moving average is $330.33 and its 200 day simple moving average is $341.34.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the business earned ($0.47) EPS. The firm's revenue was up 10.6% compared to the same quarter last year. On average, research analysts anticipate 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 Friday, May 16th. Investors 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 yield of 0.24%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is currently 14.41%.

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.