Advisor Resource Council purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,552 shares of the company's stock, valued at approximately $1,310,000.
A number of other large investors have also added to or reduced their stakes in GEV. Norges Bank acquired a new stake in GE Vernova during the fourth quarter worth approximately $1,109,720,000. Capital International Investors grew its position in 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 buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC grew its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, FMR LLC grew its position 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.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on GEV. Truist Financial set a $440.00 price target on GE Vernova in a research report on Thursday, March 27th. Susquehanna restated a "positive" rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Guggenheim restated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Robert W. Baird boosted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average price target of $404.56.
Read Our Latest Stock Report on GEV
GE Vernova Price Performance
Shares of GE Vernova stock traded down $3.78 during trading on Friday, hitting $486.41. The company's stock had a trading volume of 4,002,218 shares, compared to its average volume of 3,269,632. The stock has a market cap of $132.76 billion, a price-to-earnings ratio of 70.09, a price-to-earnings-growth ratio of 3.81 and a beta of 1.97. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72. The stock has a 50-day moving average price of $425.55 and a two-hundred day moving average price of $370.71.
GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is presently 14.41%.
GE Vernova Company Profile
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Free Report)
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.
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