CapWealth Advisors LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,465 shares of the company's stock after selling 13,756 shares during the period. GE Vernova accounts for approximately 1.6% of CapWealth Advisors LLC's portfolio, making the stock its 28th largest holding. CapWealth Advisors LLC's holdings in GE Vernova were worth $14,795,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of GEV. Norges Bank bought a new position in GE Vernova during the fourth quarter valued at $1,109,720,000. Capital International Investors boosted its holdings in shares of GE Vernova by 25.3% in 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 during the period. GAMMA Investing LLC boosted its holdings in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the period. Finally, FMR LLC boosted its holdings in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the period.
GE Vernova Trading Down 0.1%
Shares of NYSE:GEV traded down $0.41 on Friday, reaching $538.95. 2,285,780 shares of the company traded hands, compared to its average volume of 3,318,687. The business's 50-day simple moving average is $476.87 and its 200 day simple moving average is $389.56. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $546.36. The stock has a market capitalization of $147.10 billion, a P/E ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86.
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 return on equity of 10.10% and a net margin of 5.42%. The company 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. GE Vernova's revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's payout ratio is 14.41%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on GEV shares. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday. Wall Street Zen raised GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Morgan Stanley raised their price target on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Finally, Barclays increased their price objective on GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $451.38.
Get Our Latest Report on GEV
GE Vernova Company Profile
(
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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