Lazard Asset Management LLC Sells 12,393 Shares of GE Vernova Inc. (NYSE:GEV)

Lazard Asset Management LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,874 shares of the company's stock after selling 12,393 shares during the period. Lazard Asset Management LLC's holdings in GE Vernova were worth $4,234,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC increased its holdings in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $25,000. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new position in shares of GE Vernova during the fourth quarter worth about $27,000.

GE Vernova Trading Up 4.3%

Shares of GE Vernova stock traded up $18.27 on Monday, hitting $446.33. 3,123,788 shares of the company traded hands, compared to its average volume of 3,319,641. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50. The company has a market cap of $121.82 billion and a P/E ratio of 80.28. The firm's 50-day simple moving average is $344.05 and its 200 day simple moving average is $345.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the business posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. GE Vernova's payout ratio is 14.41%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. TD Cowen decreased their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Robert W. Baird upped their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Susquehanna reissued a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Six research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $374.62.

GE Vernova 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.