ProShare Advisors LLC Has $14.38 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

ProShare Advisors LLC grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,718 shares of the company's stock after acquiring an additional 8,202 shares during the quarter. ProShare Advisors LLC's holdings in GE Vernova were worth $14,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Quadcap Wealth Management LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $353,000. Quantinno Capital Management LP increased its holdings in shares of GE Vernova by 24.6% in the 4th quarter. Quantinno Capital Management LP now owns 22,538 shares of the company's stock valued at $7,413,000 after acquiring an additional 4,451 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. grew its stake in GE Vernova by 15.6% during the 4th quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 18,500 shares of the company's stock worth $6,085,000 after buying an additional 2,500 shares during the last quarter. Pathstone Holdings LLC grew its stake in GE Vernova by 4.0% during the 4th quarter. Pathstone Holdings LLC now owns 30,740 shares of the company's stock worth $10,113,000 after buying an additional 1,172 shares during the last quarter. Finally, Paradoxiom Capital L.P. bought a new position in GE Vernova during the 4th quarter worth $8,186,000.

GE Vernova Stock Up 0.6%

GEV stock traded up $2.76 during midday trading on Tuesday, reaching $449.36. 2,745,624 shares of the company's stock traded hands, compared to its average volume of 3,323,739. The company has a 50-day simple moving average of $347.00 and a two-hundred day simple moving average of $346.95. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $451.24. The company has a market cap of $122.65 billion and a price-to-earnings ratio of 80.82.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The firm 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 business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on GEV shares. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. Morgan Stanley reiterated an "overweight" rating and set a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday. Finally, New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $374.62.

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.