Massachusetts Financial Services Co. MA Has $591.33 Million Position in GE Vernova Inc. (NYSE:GEV)

Massachusetts Financial Services Co. MA raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 47.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,937,018 shares of the company's stock after buying an additional 622,730 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.71% of GE Vernova worth $591,333,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GEV. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at $25,000. Navigoe LLC bought a new position in shares of GE Vernova in the fourth quarter valued at $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the first quarter valued at $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the fourth quarter valued at $28,000. Finally, Pinpoint Asset Management Ltd bought a new position in shares of GE Vernova in the fourth quarter valued at $30,000.

Analyst Ratings Changes

Several brokerages have issued reports on GEV. Robert W. Baird boosted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. BMO Capital Markets boosted their target price on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Guggenheim reissued a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Barclays boosted their target price on shares of GE Vernova from $550.00 to $580.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $468.88.

GE Vernova Stock Up 0.9%

GEV stock traded up $5.30 during mid-day trading on Friday, reaching $575.47. 1,380,259 shares of the stock traded hands, compared to its average volume of 3,299,681. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $581.27. The business has a 50-day moving average of $489.76 and a two-hundred day moving average of $395.72. The firm has a market capitalization of $157.06 billion, a PE ratio of 82.96, a P/E/G ratio of 4.18 and a beta of 1.86.

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 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned ($0.47) earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 14.41%.

About GE Vernova

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.