Fiduciary Trust Co Acquires 2,759 Shares of GE Vernova Inc. (NYSE:GEV)

Fiduciary Trust Co boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,961 shares of the company's stock after acquiring an additional 2,759 shares during the period. Fiduciary Trust Co's holdings in GE Vernova were worth $13,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. FMR LLC raised its holdings in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Capital International Investors raised its holdings in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Norges Bank purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $1,109,720,000. Finally, Northern Trust Corp raised its holdings in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEV. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Susquehanna increased their price target on shares of GE Vernova from $370.00 to $399.00 and gave the stock a "positive" rating in a report on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Finally, Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $369.22.

GE Vernova Trading Up 1.0%

Shares of GE Vernova stock traded up $4.03 during midday trading on Friday, reaching $398.03. The company had a trading volume of 2,383,020 shares, compared to its average volume of 3,314,351. The company has a market capitalization of $108.64 billion and a price-to-earnings ratio of 71.59. The stock has a fifty day simple moving average of $330.33 and a 200 day simple moving average of $341.34. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) EPS. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) 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.