Mutual of America Capital Management LLC decreased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,228 shares of the company's stock after selling 2,126 shares during the quarter. Mutual of America Capital Management LLC's holdings in GE Vernova were worth $10,754,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the period. Proficio Capital Partners LLC acquired a new position in GE Vernova during the fourth quarter valued at $287,000. American Assets Inc. purchased a new stake in GE Vernova in the fourth quarter valued at $658,000. Avantax Advisory Services Inc. boosted its holdings in GE Vernova by 2.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,433 shares of the company's stock valued at $2,445,000 after purchasing an additional 153 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in GE Vernova by 2.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,106 shares of the company's stock worth $1,022,000 after purchasing an additional 81 shares during the period.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and boosted their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. lifted 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, Bank of America upped their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $451.38.
Check Out Our Latest Report on GE Vernova
GE Vernova Stock Performance
NYSE GEV opened at $538.95 on Monday. The stock's fifty day moving average is $476.87 and its two-hundred day moving average is $390.18. The firm has a market capitalization of $147.10 billion, a P/E ratio of 77.66, a price-to-earnings-growth ratio of 4.01 and a beta of 1.86. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $546.65.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the company posted ($0.47) EPS. The company's revenue was up 10.6% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio (DPR) is 14.41%.
GE Vernova Profile
(
Free Report)
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.
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