Nisa Investment Advisors LLC Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Nisa Investment Advisors LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 60.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,097 shares of the company's stock after selling 73,930 shares during the period. Nisa Investment Advisors LLC's holdings in GE Vernova were worth $14,988,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GEV. Norges Bank bought a new stake in GE Vernova in the fourth quarter valued at $1,109,720,000. Capital International Investors boosted its position in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of GE Vernova by 32,984.2% in the 1st 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 during the period. Massachusetts Financial Services Co. MA increased its position in GE Vernova by 1,638.5% in the 4th 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 increased its position in 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.

GE Vernova Stock Down 0.1%

GE Vernova stock traded down $0.41 during trading on Friday, hitting $538.95. The stock had a trading volume of 2,285,780 shares, compared to its average volume of 3,325,574. The stock's 50 day moving average is $476.87 and its two-hundred day moving average is $390.18. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $546.65. The stock has a market cap of $147.10 billion, a price-to-earnings ratio of 77.66, a price-to-earnings-growth ratio of 4.01 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. 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 prior year, the firm earned ($0.47) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. GE Vernova's dividend payout ratio is presently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. Susquehanna reissued a "positive" rating and issued a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Bank of America lifted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Guggenheim restated a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. TD Cowen lowered their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $451.38.

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.