Capital Group Private Client Services Inc. Acquires 44,234 Shares of GE Vernova Inc. (NYSE:GEV)

Capital Group Private Client Services Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 16.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 315,548 shares of the company's stock after acquiring an additional 44,234 shares during the period. GE Vernova accounts for 1.0% of Capital Group Private Client Services Inc.'s portfolio, making the stock its 26th largest holding. Capital Group Private Client Services Inc. owned approximately 0.11% of GE Vernova worth $103,793,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Howard Capital Management Group LLC purchased a new stake in GE Vernova in the 3rd quarter valued at about $213,000. Virtu Financial LLC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $1,481,000. Westside Investment Management Inc. boosted its holdings in shares of GE Vernova by 24.0% in the third quarter. Westside Investment Management Inc. now owns 362 shares of the company's stock valued at $92,000 after purchasing an additional 70 shares during the period. Fulcrum Equity Management bought a new position in GE Vernova in the third quarter worth approximately $218,000. Finally, World Investment Advisors LLC increased its holdings in GE Vernova by 41.4% during the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company's stock worth $733,000 after purchasing an additional 842 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on GEV. JPMorgan Chase & Co. lowered their target price on GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, BMO Capital Markets decreased their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Seven 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $357.13.

GE Vernova Stock Performance

NYSE GEV opened at $322.81 on Friday. The stock's fifty day moving average is $322.67 and its two-hundred day moving average is $329.15. The firm has a market capitalization of $88.24 billion and a P/E ratio of 58.06. GE Vernova Inc. has a fifty-two week low of $132.11 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is presently 17.99%.

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.

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