GE Vernova Inc. (NYSE:GEV) Shares Sold by Capital Research Global Investors

Capital Research Global Investors reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 732,719 shares of the company's stock after selling 565,681 shares during the period. Capital Research Global Investors owned approximately 0.27% of GE Vernova worth $241,013,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GEV. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $25,000. Cedar Mountain Advisors LLC lifted its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new position in GE Vernova in the 4th quarter worth $30,000.

Analysts Set New Price Targets

Several research firms recently commented on GEV. Barclays cut their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, Robert W. Baird upped their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $369.22.

GE Vernova Price Performance

GEV stock traded up $24.48 on Thursday, reaching $360.57. The company's stock had a trading volume of 4,974,942 shares, compared to its average volume of 3,372,660. GE Vernova Inc. has a 52 week low of $138.67 and a 52 week high of $447.50. The company has a market capitalization of $98.56 billion and a P/E ratio of 64.85. The firm has a fifty day moving average of $319.03 and a two-hundred day moving average of $331.01.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.46. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. During the same period last year, the company earned ($0.47) earnings per share. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's dividend payout ratio is currently 17.99%.

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.