GE Vernova Inc. (NYSE:GEV) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 673,457 shares of the company's stock after purchasing an additional 3,517 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of GE Vernova worth $205,593,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GEV. Norges Bank acquired a new position in GE Vernova in the fourth quarter worth about $1,109,720,000. Capital International Investors grew its position in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares in the last quarter. GAMMA Investing LLC grew its position 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 worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 during the last quarter. Finally, FMR LLC raised its position in shares of GE Vernova by 3.4% during 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.

Analyst Ratings Changes

Several research firms have weighed in on GEV. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays boosted their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. Finally, Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average price target of $429.13.

GE Vernova Stock Performance

Shares of GEV stock traded down $24.26 during mid-day trading on Tuesday, hitting $504.89. 6,521,882 shares of the stock traded hands, compared to its average volume of 3,300,986. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.59. The company's 50-day simple moving average is $448.23 and its 200-day simple moving average is $378.45. The firm has a market cap of $137.80 billion, a price-to-earnings ratio of 72.75, a price-to-earnings-growth ratio of 4.11 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the business posted ($0.47) earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova's dividend payout ratio is currently 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.