Cohen & Steers Inc. Makes New $1.39 Million Investment in GE Vernova Inc. (NYSE:GEV)

Cohen & Steers Inc. bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,210 shares of the company's stock, valued at approximately $1,385,000.

Several other institutional investors have also made changes to their positions in GEV. FMR LLC raised its holdings 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 acquiring an additional 814,155 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of GE Vernova by 3.5% during the 4th 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 shares of GE Vernova in the fourth quarter worth $1,109,720,000. Franklin Resources Inc. lifted its stake in shares of GE Vernova by 3.7% in the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock valued at $533,257,000 after buying an additional 71,067 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of GE Vernova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company's stock valued at $552,404,000 after purchasing an additional 49,821 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. BMO Capital Markets cut their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Finally, Robert W. Baird dropped their target price on GE Vernova from $448.00 to $387.00 and set an "outperform" rating for the company in a research report on Tuesday. Seven 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.13.

GE Vernova Stock Down 1.6 %

GEV traded down $5.36 during midday trading on Friday, hitting $322.81. 2,859,246 shares of the company were exchanged, compared to its average volume of 3,367,032. The firm's 50 day moving average price is $321.67 and its 200-day moving average price is $329.61. GE Vernova Inc. has a 1-year low of $132.11 and a 1-year high of $447.50. The firm has a market capitalization of $88.24 billion and a P/E ratio of 58.06.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued 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 of this dividend is Thursday, April 17th. GE Vernova's payout ratio is 17.99%.

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.