GE Vernova Inc. (NYSE:GEV) Stock Position Boosted by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 380.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the company's stock after buying an additional 19,000 shares during the period. GE Vernova makes up 0.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 27th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in GE Vernova were worth $7,327,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GEV. Norges Bank purchased a new stake in GE Vernova during the fourth quarter worth about $1,109,720,000. Capital International Investors grew its position 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 during the last quarter. GAMMA Investing LLC lifted its position in GE Vernova by 32,984.2% during the 1st 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 GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. Finally, FMR LLC raised its position in 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 in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GEV shares. Royal Bank Of Canada dropped their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Bank of America boosted their target price on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Citigroup lowered their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley increased their price target on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $429.13.

GE Vernova Stock Performance

Shares of GEV stock traded down $24.26 during trading hours on Tuesday, reaching $504.89. The company had a trading volume of 6,515,228 shares, compared to its average volume of 3,298,748. The company has a market capitalization of $137.80 billion, a P/E ratio of 72.75, a price-to-earnings-growth ratio of 4.03 and a beta of 1.97. The stock's fifty day simple moving average is $448.23 and its 200 day simple moving average is $378.45. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.59.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (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 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 quarter in the previous year, the firm posted ($0.47) EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 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.