Westbourne Investments Inc. Purchases New Stake in GE Vernova Inc. (NYSE:GEV)

Westbourne Investments Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,060 shares of the company's stock, valued at approximately $1,993,000. GE Vernova accounts for about 1.2% of Westbourne Investments Inc.'s portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC increased its stake 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 boosted 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 acquiring an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC grew its stake 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 valued at $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Norges Bank purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp raised its stake in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

GE Vernova Stock Down 0.8 %

NYSE GEV traded down $3.38 during trading hours on Tuesday, hitting $397.72. The company's stock had a trading volume of 1,225,484 shares, compared to its average volume of 4,060,824. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The firm has a market capitalization of $108.55 billion and a P/E ratio of 71.53. The stock has a fifty day moving average of $324.11 and a 200 day moving average of $338.05.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on GEV shares. JPMorgan Chase & Co. lowered their price target on GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley reaffirmed an "overweight" rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. 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. Barclays cut their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Finally, Jefferies Financial Group upped their price target on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price 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.