GE Vernova Inc. (NYSE:GEV) Shares Sold by Vident Advisory LLC

Vident Advisory LLC decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,800 shares of the company's stock after selling 863 shares during the quarter. Vident Advisory LLC's holdings in GE Vernova were worth $1,910,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Capital International Investors raised its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC raised its holdings in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank acquired a new stake in GE Vernova during the fourth quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp raised its holdings in 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 purchasing an additional 343,837 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GEV shares. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Morgan Stanley restated an "overweight" rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Robert W. Baird raised their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Susquehanna restated a "positive" rating and set a $499.00 target price (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Six 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $374.62.

GE Vernova Stock Up 1.5%

Shares of GEV stock traded up $6.98 during trading hours on Wednesday, hitting $478.49. 978,336 shares of the company were exchanged, compared to its average volume of 3,321,760. The firm has a market cap of $130.60 billion and a PE ratio of 86.11. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $478.96. The firm has a fifty day moving average of $363.53 and a 200 day moving average of $352.45.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) EPS. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's payout ratio is currently 14.41%.

GE Vernova Company Profile

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.