Voya Investment Management LLC Trims Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Voya Investment Management LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 67.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,643 shares of the company's stock after selling 205,920 shares during the period. Voya Investment Management LLC's holdings in GE Vernova were worth $33,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GEV. FMR LLC increased its position in 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 increased its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC increased its position in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Norges Bank acquired a new stake in GE Vernova during the fourth quarter worth about $1,109,720,000. Finally, Franklin Resources Inc. increased its position in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock worth $533,257,000 after purchasing an additional 71,067 shares during the last quarter.

GE Vernova Price Performance

GEV traded up $12.99 during trading on Thursday, reaching $383.81. 1,739,702 shares of the stock were exchanged, compared to its average volume of 3,330,993. The business's 50 day moving average price is $319.89 and its two-hundred day moving average price is $334.60. The company has a market capitalization of $104.75 billion and a price-to-earnings ratio of 69.01. GE Vernova Inc. has a 1 year low of $149.42 and a 1 year high of $447.50.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. GE Vernova's dividend payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of GE Vernova from $370.00 to $399.00 and gave the stock a "positive" rating in a research report on Thursday, April 24th. Jefferies Financial Group lifted their price target on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. TD Cowen cut their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $422.00 target price (up previously from $400.00) 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 given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $369.22.

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.