Scientech Research LLC Invests $1.16 Million in GE Vernova Inc. (NYSE:GEV)

Scientech Research LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,511 shares of the company's stock, valued at approximately $1,155,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted its position 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 in the last quarter. Capital International Investors lifted its holdings in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC lifted its holdings in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Norges Bank bought a new position in GE Vernova in the 4th quarter valued at $1,109,720,000. Finally, Northern Trust Corp increased its stake in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares during the period.

GE Vernova Stock Performance

NYSE GEV traded up $9.57 on Thursday, reaching $462.60. The company had a trading volume of 1,525,456 shares, compared to its average volume of 3,324,718. The company's fifty day moving average is $352.79 and its 200-day moving average is $348.40. The firm has a market capitalization of $126.26 billion and a price-to-earnings ratio of 83.08. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $464.59.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) earnings per share. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna reaffirmed a "positive" rating and set a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Morgan Stanley restated an "overweight" rating and set a $422.00 target price (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price target for the company. Finally, Barclays reduced their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $374.62.

GE Vernova Company 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.