Segment Wealth Management LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,022 shares of the company's stock after selling 1,469 shares during the quarter. GE Vernova makes up about 1.4% of Segment Wealth Management LLC's holdings, making the stock its 12th biggest holding. Segment Wealth Management LLC's holdings in GE Vernova were worth $21,376,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in GEV. Norges Bank purchased a new position in GE Vernova during the 4th quarter valued at $1,109,720,000. Capital International Investors increased its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. GAMMA Investing LLC increased its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA increased its position in GE Vernova by 1,638.5% during 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 purchasing an additional 1,238,690 shares during the period. Finally, FMR LLC grew 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 worth $8,177,803,000 after buying an additional 814,155 shares during the period.
GE Vernova Stock Down 0.8%
GEV traded down $3.78 during midday trading on Friday, hitting $486.41. 4,002,218 shares of the company traded hands, compared to its average volume of 3,269,632. The firm has a market capitalization of $132.76 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 3.81 and a beta of 1.97. The company's 50-day moving average is $425.55 and its 200 day moving average is $370.71. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping 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 prior year, the business earned ($0.47) EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GEV. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Barclays upped their target price on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $404.56.
Check Out Our Latest Research Report on GE Vernova
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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