GE Vernova Inc. (NYSE:GEV) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,657 shares of the company's stock after purchasing an additional 21,853 shares during the period. Ensign Peak Advisors Inc's holdings in GE Vernova were worth $38,043,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GEV. Norges Bank acquired a new stake in GE Vernova in the 4th quarter valued at about $1,109,720,000. Capital International Investors increased its holdings in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the period. FMR LLC increased its holdings in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of GE Vernova during the fourth quarter worth approximately $219,187,000.

GE Vernova Stock Down 0.1%

Shares of GE Vernova stock traded down $0.38 during midday trading on Wednesday, hitting $432.95. The company had a trading volume of 2,573,472 shares, compared to its average volume of 3,309,362. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50. The stock has a market cap of $118.17 billion and a price-to-earnings ratio of 77.87. The company has a fifty day simple moving average of $335.14 and a 200 day simple moving average of $342.83.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company earned ($0.47) EPS. The business's revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.23%. GE Vernova's dividend payout ratio (DPR) is currently 14.41%.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Johnson Rice started coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. TD Cowen reduced their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.