Caisse DE Depot ET Placement DU Quebec Sells 83,548 Shares of GE Vernova Inc. (NYSE:GEV)

Caisse DE Depot ET Placement DU Quebec trimmed its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,977 shares of the company's stock after selling 83,548 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.10% of GE Vernova worth $89,461,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its stake in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC lifted its stake in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after buying an additional 30 shares during the period. Mutual Advisors LLC increased its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after acquiring an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after acquiring an additional 31 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating for the company. Barclays lowered their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. Finally, Robert W. Baird increased their price target on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Price Performance

Shares of NYSE GEV traded up $4.74 during trading hours on Monday, hitting $401.06. 2,185,654 shares of the stock were exchanged, compared to its average volume of 3,331,455. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50. The company's 50 day moving average is $322.79 and its 200 day moving average is $337.15. The firm has a market capitalization of $109.46 billion and a P/E ratio of 72.13.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during 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%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.47) earnings per share. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

GE Vernova 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.