Rafferty Asset Management LLC Has $8.47 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Rafferty Asset Management LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,745 shares of the company's stock after purchasing an additional 2,703 shares during the period. Rafferty Asset Management LLC's holdings in GE Vernova were worth $8,468,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. FMR LLC grew 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 last quarter. Capital International Investors boosted its holdings in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the last quarter. Norges Bank bought a new position in GE Vernova in the fourth quarter valued at about $1,109,720,000. Finally, Northern Trust Corp boosted its holdings in GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after acquiring an additional 343,837 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GEV shares. Robert W. Baird raised their price target on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Citigroup decreased their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada decreased their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Finally, Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $374.62.

GE Vernova Trading Up 0.6%

Shares of NYSE:GEV traded up $2.76 during trading on Tuesday, hitting $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 moving average price of $347.00 and a 200-day moving average price of $346.95. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week 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 earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) 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 analyst estimates of $7.56 billion. During the same quarter last year, the firm earned ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Thursday, April 17th. GE Vernova's dividend payout ratio is presently 14.41%.

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.