DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Lowers Holdings in GE Vernova Inc. (NYSE:GEV)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,542,820 shares of the company's stock after selling 895,343 shares during the period. GE Vernova makes up approximately 1.8% of DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's investment portfolio, making the stock its 11th biggest holding. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 2.01% of GE Vernova worth $1,823,200,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FMR LLC increased its stake in GE Vernova by 3.4% in the 4th 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 during the period. Capital International Investors raised its stake in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 3.5% in 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 purchasing an additional 195,828 shares during the period. Norges Bank bought a new position in GE Vernova in the fourth quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp increased its holdings in GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Morgan Stanley reiterated an "overweight" rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating on the stock. Barclays lowered their price target on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Finally, BMO Capital Markets cut their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Stock Up 1.0 %

Shares of GEV traded up $4.03 during trading hours on Friday, reaching $398.03. 2,383,020 shares of the company traded hands, compared to its average volume of 3,314,932. The business has a fifty day moving average price of $330.33 and a 200-day moving average price of $340.61. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50. The stock has a market capitalization of $108.64 billion and a P/E ratio of 71.59.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share 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 business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) EPS. The company's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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