Retirement Planning Group LLC NY purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,541 shares of the company's stock, valued at approximately $507,000.
Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at $1,109,720,000. Capital International Investors raised its holdings in GE Vernova by 25.3% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 acquiring an additional 1,238,690 shares in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 814,155 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock valued at $379,974,000 after acquiring an additional 690,513 shares in the last quarter.
GE Vernova Stock Performance
Shares of NYSE:GEV traded up $6.49 during midday trading on Tuesday, reaching $470.88. The company's stock had a trading volume of 2,939,615 shares, compared to its average volume of 3,330,790. The firm has a 50 day moving average price of $360.85 and a two-hundred day moving average price of $351.62. The firm has a market capitalization of $128.52 billion and a price-to-earnings ratio of 84.69. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $477.91.
GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the company earned ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on GEV. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Robert W. Baird lifted their price target on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Jefferies Financial Group lifted their price target on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $374.62.
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About GE Vernova
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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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