Focus Partners Wealth Buys 5,283 Shares of GE Vernova Inc. (NYSE:GEV)

Focus Partners Wealth lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 18.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,166 shares of the company's stock after purchasing an additional 5,283 shares during the quarter. Focus Partners Wealth's holdings in GE Vernova were worth $11,754,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Ensign Peak Advisors Inc increased its holdings in shares of GE Vernova by 23.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 115,657 shares of the company's stock worth $38,043,000 after purchasing an additional 21,853 shares during the period. Ethic Inc. bought a new position in shares of GE Vernova during the fourth quarter worth approximately $4,601,000. Fiduciary Trust Co increased its holdings in shares of GE Vernova by 7.2% during the fourth quarter. Fiduciary Trust Co now owns 40,961 shares of the company's stock worth $13,473,000 after purchasing an additional 2,759 shares during the period. Fred Alger Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $3,256,000. Finally, Clark Capital Management Group Inc. boosted its position in shares of GE Vernova by 19.9% during the 4th quarter. Clark Capital Management Group Inc. now owns 22,507 shares of the company's stock worth $7,403,000 after acquiring an additional 3,742 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on GEV. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Barclays decreased their target price on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $374.62.

GE Vernova Trading Up 0.4%

GEV stock traded up $1.66 during midday trading on Friday, hitting $428.63. The stock had a trading volume of 2,595,385 shares, compared to its average volume of 3,320,423. The firm has a market cap of $116.99 billion and a P/E ratio of 77.09. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $447.50. The business has a fifty day moving average price of $344.05 and a two-hundred day moving average price of $345.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.23%. GE Vernova's payout ratio 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.