Atika Capital Management LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,450 shares of the company's stock after selling 2,550 shares during the quarter. GE Vernova comprises 1.4% of Atika Capital Management LLC's holdings, making the stock its 17th largest holding. Atika Capital Management LLC's holdings in GE Vernova were worth $13,305,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in GE Vernova during the 4th quarter valued at $1,109,720,000. Massachusetts Financial Services Co. MA grew its holdings in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after buying an additional 1,238,690 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of GE Vernova during the fourth quarter worth about $219,187,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of GE Vernova by 555.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company's stock worth $187,404,000 after acquiring an additional 482,787 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock valued at $203,134,000 after acquiring an additional 456,879 shares in the last quarter.
Analyst Ratings Changes
A number of analysts have commented on the company. Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. New Street Research set a $380.00 price objective on GE Vernova in a research note on Wednesday, March 5th. Susquehanna initiated coverage on shares of GE Vernova in a report on Wednesday, April 2nd. They set a "positive" rating and a $370.00 price objective on the stock. BMO Capital Markets lowered their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $349.20.
Get Our Latest Stock Analysis on GE Vernova
GE Vernova Price Performance
GEV stock traded up $5.07 during mid-day trading on Wednesday, reaching $291.96. 1,698,625 shares of the company traded hands, compared to its average volume of 3,433,665. The company has a fifty day moving average price of $330.48 and a 200-day moving average price of $326.28. GE Vernova Inc. has a 52-week low of $128.25 and a 52-week high of $447.50. The company has a market capitalization of $79.80 billion and a P/E ratio of 52.37.
GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm's revenue was up 5.1% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.34%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.
GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
GE Vernova Profile
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Free Report)
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.
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