University of Texas Texas AM Investment Management Co. Buys New Shares in GE Vernova Inc. (NYSE:GEV)

University of Texas Texas AM Investment Management Co. bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,579 shares of the company's stock, valued at approximately $1,835,000.

Several other large investors have also recently bought and sold shares of GEV. FMR LLC raised its holdings in shares of 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 in the last quarter. 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 worth $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 3.5% during the 4th 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 last quarter. Norges Bank purchased a new position in GE Vernova in the 4th quarter worth $1,109,720,000. Finally, Northern Trust Corp raised its position 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 purchasing an additional 343,837 shares during the period.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $14.43 during trading on Wednesday, hitting $485.94. 1,740,869 shares of the company's stock traded hands, compared to its average volume of 3,324,692. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $486.09. The business has a 50-day simple moving average of $363.53 and a 200-day simple moving average of $352.45. The stock has a market capitalization of $132.63 billion and a P/E ratio of 87.33.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted ($0.47) EPS. The business's quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays reduced their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. TD Cowen lowered their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Citigroup dropped their price objective on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $374.62.

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.