Northern Trust Corp Purchases 343,837 Shares of GE Vernova Inc. (NYSE:GEV)

Northern Trust Corp lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,630,122 shares of the company's stock after buying an additional 343,837 shares during the quarter. Northern Trust Corp owned 0.95% of GE Vernova worth $865,126,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GEV. Howard Capital Management Group LLC acquired a new stake in GE Vernova during the 3rd quarter valued at $213,000. Virtu Financial LLC acquired a new position in GE Vernova in the 3rd quarter valued at about $1,481,000. Westside Investment Management Inc. lifted its holdings in GE Vernova by 24.0% in the 3rd quarter. Westside Investment Management Inc. now owns 362 shares of the company's stock valued at $92,000 after purchasing an additional 70 shares in the last quarter. Fulcrum Equity Management acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $218,000. Finally, World Investment Advisors LLC grew its holdings in shares of GE Vernova by 41.4% during the third quarter. World Investment Advisors LLC now owns 2,876 shares of the company's stock worth $733,000 after buying an additional 842 shares in the last quarter.

GE Vernova Stock Up 3.7 %

GEV stock traded up $14.19 during mid-day trading on Friday, reaching $396.48. 3,600,690 shares of the company traded hands, compared to its average volume of 3,340,807. The firm's 50 day moving average price is $321.22 and its 200 day moving average price is $335.37. The stock has a market cap of $108.21 billion and a price-to-earnings ratio of 71.31. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. GE Vernova's dividend payout ratio is currently 14.41%.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their target price 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. Guggenheim reaffirmed a "buy" rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. BMO Capital Markets cut their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. Finally, Truist Financial set a $440.00 target price on GE Vernova in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average price target of $369.22.

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.