BROOKFIELD Corp ON Takes Position in GE Vernova Inc. (NYSE:GEV)

BROOKFIELD Corp ON acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,529 shares of the company's stock, valued at approximately $3,463,000.

Several other hedge funds have also modified their holdings of GEV. FMR LLC boosted its holdings in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Capital International Investors grew its holdings in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the last quarter. Norges Bank purchased a new stake in shares of GE Vernova during the fourth quarter worth about $1,109,720,000. Finally, Northern Trust Corp grew its stake in GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares during the period.

GE Vernova Trading Up 1.0 %

GEV stock traded up $4.03 during mid-day trading on Friday, hitting $398.03. 2,383,020 shares of the company were exchanged, compared to its average volume of 3,314,931. The company has a market capitalization of $108.64 billion and a PE ratio of 71.59. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The firm has a fifty day simple moving average of $328.62 and a 200 day simple moving average of $339.77.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada dropped their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. TD Cowen reduced their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group upped their price target on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Robert W. Baird lifted their price objective on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.