Investment Management Corp of Ontario Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

Investment Management Corp of Ontario cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,030 shares of the company's stock after selling 2,585 shares during the quarter. Investment Management Corp of Ontario's holdings in GE Vernova were worth $4,944,000 as of its most recent filing with the SEC.

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

GE Vernova Price Performance

NYSE:GEV traded down $0.38 during mid-day trading on Wednesday, reaching $432.95. The company's stock had a trading volume of 2,573,472 shares, compared to its average volume of 3,309,364. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The company's fifty day simple moving average is $338.02 and its two-hundred day simple moving average is $343.46. The stock has a market cap of $118.17 billion and a P/E ratio of 77.87.

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 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 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 period in the previous year, the company posted ($0.47) EPS. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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 dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.23%. GE Vernova's dividend payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GEV. Johnson Rice initiated 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. Robert W. Baird raised their target price on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Citigroup cut their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Six research 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. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $373.22.

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.