Yoffe Investment Management LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Yoffe Investment Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 921 shares of the company's stock, valued at approximately $303,000.

Several other large investors have also recently modified their holdings of GEV. FMR LLC raised its position in GE Vernova by 3.4% in 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 grew its stake in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% during the 4th 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 purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp raised its holdings in shares of GE Vernova by 15.0% during the 4th 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 in the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. BMO Capital Markets increased their price target on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a report on Friday. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and increased their price target for the company from $427.00 to $517.00 in a report on Thursday. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Finally, Barclays upped their price objective on GE Vernova from $427.00 to $500.00 and gave the company an "overweight" rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $385.78.

GE Vernova Stock Up 0.1%

GE Vernova stock traded up $0.39 on Friday, hitting $471.56. The company's stock had a trading volume of 5,090,753 shares, compared to its average volume of 3,356,777. The firm has a market cap of $128.71 billion and a P/E ratio of 84.81. The company has a fifty day moving average price of $371.84 and a 200-day moving average price of $355.23. GE Vernova Inc. has a one year low of $150.01 and a one year high of $489.13.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) 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 the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors 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 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova's dividend payout ratio is 14.41%.

GE Vernova 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.