Kayne Anderson Capital Advisors LP Has $2.41 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Kayne Anderson Capital Advisors LP lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 69.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,904 shares of the company's stock after selling 18,366 shares during the period. Kayne Anderson Capital Advisors LP's holdings in GE Vernova were worth $2,413,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FMR LLC raised its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Capital International Investors boosted its position in shares of 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 acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC raised its stake in shares of GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Norges Bank purchased a new position in GE Vernova during the 4th quarter valued at $1,109,720,000. Finally, Northern Trust Corp boosted its holdings in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $460.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 target price for the company. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley upped 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. Finally, The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Seven equities 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. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $468.88.

GE Vernova Price Performance

GEV stock traded down $8.91 during trading on Monday, reaching $565.69. 2,144,921 shares of the stock traded hands, compared to its average volume of 3,294,825. The business's 50 day moving average price is $493.30 and its 200-day moving average price is $398.31. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $589.44. The firm has a market capitalization of $154.39 billion, a PE ratio of 81.51, a P/E/G ratio of 4.33 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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 business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.47) earnings per share. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given 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 0.18%. GE Vernova's payout ratio is currently 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.