Envestnet Asset Management Inc. Buys 10,951 Shares of GE Vernova Inc. (NYSE:GEV)

Envestnet Asset Management Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 421,454 shares of the company's stock after buying an additional 10,951 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of GE Vernova worth $128,662,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GEV. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at approximately $1,109,720,000. Capital International Investors boosted its position in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Finally, FMR LLC raised its stake 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 last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley boosted their target price on shares of GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Barclays boosted their price target on shares of GE Vernova from $550.00 to $580.00 and gave the stock an "overweight" rating in a research note on Wednesday. Bank of America boosted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Finally, Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $451.38.

GE Vernova Stock Down 0.1%

GEV traded down $0.41 during trading hours on Friday, hitting $538.95. 2,285,780 shares of the company's stock were exchanged, compared to its average volume of 3,318,687. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $546.65. The stock's 50-day moving average is $476.87 and its two-hundred day moving average is $389.56. The stock has a market cap of $147.10 billion, a price-to-earnings ratio of 77.66, a PEG ratio of 4.15 and a beta of 1.86.

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 business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm's revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) earnings per share. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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