Meiji Yasuda Life Insurance Co Sells 1,090 Shares of GE Vernova Inc. (NYSE:GEV)

Meiji Yasuda Life Insurance Co reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,735 shares of the company's stock after selling 1,090 shares during the period. Meiji Yasuda Life Insurance Co's holdings in GE Vernova were worth $4,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Armstrong Advisory Group Inc. increased its stake in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares during the period. Hengehold Capital Management LLC boosted its holdings in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC increased its position in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after buying an additional 31 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after buying an additional 31 shares during the period.

GE Vernova Stock Performance

NYSE:GEV traded up $3.69 during midday trading on Wednesday, reaching $404.92. 887,854 shares of the stock traded hands, compared to its average volume of 3,314,933. The stock has a market capitalization of $110.52 billion and a P/E ratio of 72.81. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The company has a fifty day moving average of $325.61 and a 200 day moving average of $338.49.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share 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 company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business posted ($0.47) earnings per share. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GEV shares. Susquehanna lifted their target price on GE Vernova from $370.00 to $399.00 and gave the stock a "positive" rating in a report on Thursday, April 24th. Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Citigroup dropped their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Guggenheim reissued a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $369.22.

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.