Crossmark Global Holdings Inc. Increases Stake in GE Vernova Inc. (NYSE:GEV)

Crossmark Global Holdings Inc. raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 11.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,660 shares of the company's stock after acquiring an additional 1,361 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in GE Vernova were worth $4,170,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position 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 worth $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Capital International Investors raised its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised its position in GE Vernova by 3.5% in 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 stake in GE Vernova in the 4th quarter valued at $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 valued at $865,126,000 after purchasing an additional 343,837 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday. Susquehanna reissued a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. 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 note on Tuesday, June 10th. Guggenheim reissued a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Citigroup dropped their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $451.38.

GE Vernova Stock Performance

NYSE GEV traded down $0.41 during trading hours on Friday, reaching $538.95. The company's stock had a trading volume of 2,278,376 shares, compared to its average volume of 3,315,719. The stock has a market cap of $147.10 billion, a PE ratio of 77.66, a PEG ratio of 4.13 and a beta of 1.86. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $546.36. The company's 50-day moving average is $474.02 and its two-hundred day moving average is $388.24.

GE Vernova (NYSE:GEV - Get Free Report) last released its 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. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.47) EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

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.