GE Vernova Inc. (NYSE:GEV) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 19.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,160,009 shares of the company's stock after selling 765,872 shares during the quarter. Bank of New York Mellon Corp owned 1.16% of GE Vernova worth $964,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the period. Navigoe LLC acquired a new stake in GE Vernova during the fourth quarter valued at $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova during the fourth quarter valued at $28,000. Finally, Orion Capital Management LLC acquired a new stake in GE Vernova during the fourth quarter valued at $30,000.

GE Vernova Price Performance

Shares of GEV stock opened at $517.35 on Friday. The firm's 50-day moving average is $461.19 and its two-hundred day moving average is $382.74. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $532.59. The company has a market capitalization of $141.20 billion, a PE ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

GEV has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Jefferies Financial Group lowered shares of GE Vernova from a "buy" rating to a "hold" rating and raised their price target for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Guggenheim restated a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Barclays raised their price target on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $440.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.