Itau Unibanco Holding S.A. Invests $2.64 Million in GE Vernova Inc. (NYSE:GEV)

Itau Unibanco Holding S.A. purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,000 shares of the company's stock, valued at approximately $2,642,000.

A number of other large investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $27,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Citigroup dropped their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group increased their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered their price target on shares of GE Vernova from $436.00 to $425.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Six investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $369.22.

GE Vernova Price Performance

GE Vernova stock traded down $3.38 during mid-day trading on Tuesday, reaching $397.72. 1,288,688 shares of the company traded hands, compared to its average volume of 3,323,442. The firm's 50 day moving average price is $324.11 and its 200 day moving average price is $338.05. The firm has a market capitalization of $108.55 billion and a price-to-earnings ratio of 71.50. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50.

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

GE Vernova Dividend Announcement

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