BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in GE Vernova Inc. (NYSE:GEV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 15.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,620 shares of the company's stock after buying an additional 6,890 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in GE Vernova were worth $17,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC boosted its position in shares of GE Vernova by 8.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 3,974 shares of the company's stock worth $1,307,000 after purchasing an additional 297 shares in the last quarter. Diversify Wealth Management LLC grew its stake in shares of GE Vernova by 4.5% in the fourth quarter. Diversify Wealth Management LLC now owns 1,149 shares of the company's stock worth $378,000 after acquiring an additional 49 shares during the last quarter. UMB Bank n.a. grew its stake in shares of GE Vernova by 6.9% in the fourth quarter. UMB Bank n.a. now owns 1,940 shares of the company's stock worth $638,000 after acquiring an additional 125 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in GE Vernova by 3.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,133 shares of the company's stock worth $373,000 after purchasing an additional 39 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in GE Vernova by 9.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 3,008 shares of the company's stock valued at $989,000 after purchasing an additional 249 shares in the last quarter.

GE Vernova Stock Up 1.4%

Shares of GEV stock traded up $6.65 during trading hours on Tuesday, hitting $471.04. 1,334,270 shares of the company's stock were exchanged, compared to its average volume of 3,324,720. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $477.91. The firm has a market cap of $128.56 billion and a P/E ratio of 84.75. The firm has a 50 day moving average of $360.85 and a two-hundred day moving average of $351.62.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm posted ($0.47) earnings per share. The company's revenue was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio is presently 14.41%.

Analysts Set New Price Targets

A number of analysts have commented on the company. CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. Jefferies Financial Group boosted their target price on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $374.62.

GE Vernova 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.