Toronto Dominion Bank boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,639 shares of the company's stock after acquiring an additional 11,701 shares during the period. Toronto Dominion Bank owned about 0.05% of GE Vernova worth $48,563,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in GE Vernova by 3.4% during 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 last quarter. Capital International Investors boosted its holdings in shares of GE Vernova by 25.3% during 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 boosted its holdings 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 valued at $1,898,814,000 after acquiring an additional 195,828 shares during the period. Norges Bank bought a new position in shares of GE Vernova during the fourth quarter worth about $1,109,720,000. Finally, Northern Trust Corp grew its position in shares of GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares during the last quarter.
GE Vernova Price Performance
NYSE GEV traded up $3.84 on Wednesday, hitting $453.88. 3,925,800 shares of the company were exchanged, compared to its average volume of 3,331,693. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $462.89. The firm has a market capitalization of $123.88 billion and a P/E ratio of 81.63. The company's 50 day moving average price is $349.99 and its 200-day moving average price is $347.66.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly 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. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The firm's revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.
Wall Street Analyst Weigh In
GEV has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Robert W. Baird boosted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Barclays lowered their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating for the company. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $374.62.
Read Our Latest Report on GE Vernova
About GE Vernova
(
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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