13,987 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Ethic Inc.

Ethic Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,987 shares of the company's stock, valued at approximately $4,601,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $25,000. Fairway Wealth LLC increased its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth $27,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GEV shares. BMO Capital Markets reduced their target price 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. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Guggenheim reissued a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Baird R W raised GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $373.22.

GE Vernova Trading Down 0.1%

Shares of GE Vernova stock traded down $0.38 during trading on Wednesday, reaching $432.95. The stock had a trading volume of 2,573,472 shares, compared to its average volume of 3,309,362. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The company has a market capitalization of $118.17 billion and a price-to-earnings ratio of 77.87. The stock has a fifty day moving average price of $335.14 and a two-hundred day moving average price of $342.83.

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 business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.47) EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is currently 14.41%.

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.