Electron Capital Partners LLC Cuts Holdings in GE Vernova Inc. (NYSE:GEV)

Electron Capital Partners LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 544,671 shares of the company's stock after selling 276,165 shares during the quarter. GE Vernova accounts for 9.3% of Electron Capital Partners LLC's portfolio, making the stock its biggest holding. Electron Capital Partners LLC owned about 0.20% of GE Vernova worth $179,159,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GEV. California State Teachers Retirement System boosted its holdings in GE Vernova by 10.1% in the fourth quarter. California State Teachers Retirement System now owns 373,448 shares of the company's stock worth $122,838,000 after purchasing an additional 34,262 shares during the last quarter. Northern Trust Corp boosted its stake in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares during the last quarter. Shorepoint Capital Partners LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $1,358,000. Mission Creek Capital Partners Inc. grew its holdings in shares of GE Vernova by 331.7% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 4,442 shares of the company's stock worth $1,461,000 after acquiring an additional 3,413 shares during the period. Finally, Berger Financial Group Inc purchased a new stake in GE Vernova during the fourth quarter valued at $262,000.

GE Vernova Price Performance

Shares of GEV stock traded up $14.19 during trading hours on Friday, hitting $396.48. The stock had a trading volume of 3,600,690 shares, compared to its average volume of 3,340,810. The stock has a market capitalization of $108.21 billion and a price-to-earnings ratio of 71.31. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50. The stock's 50-day moving average price is $322.79 and its two-hundred day moving average price is $336.27.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Morgan Stanley reissued an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $369.22.

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.