Envestnet Asset Management Inc. Purchases 7,662 Shares of GE Vernova Inc. (NYSE:GEV)

Envestnet Asset Management Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 410,503 shares of the company's stock after acquiring an additional 7,662 shares during the quarter. Envestnet Asset Management Inc. owned about 0.15% of GE Vernova worth $135,027,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Register Financial Advisors LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC increased its holdings in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after buying an additional 822 shares during the period. Yarbrough Capital LLC raised its stake in shares of GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after buying an additional 1,160 shares in the last quarter. Legacy Bridge LLC lifted its holdings in shares of GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co boosted its position in shares of GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after acquiring an additional 1,408 shares in the last quarter.

GE Vernova Stock Performance

GEV traded up $8.40 during midday trading on Friday, reaching $318.35. 1,162,396 shares of the company were exchanged, compared to its average volume of 3,409,024. The stock's 50-day simple moving average is $327.44 and its 200 day simple moving average is $327.19. GE Vernova Inc. has a one year low of $128.25 and a one year high of $447.50. The stock has a market capitalization of $87.02 billion and a P/E ratio of 57.29.

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GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $10.70 billion. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova's dividend payout ratio is presently 17.99%.

Analysts Set New Price Targets

Several research firms recently issued reports on GEV. JPMorgan Chase & Co. dropped their price target on shares of GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday. Baird R W raised GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. BMO Capital Markets dropped their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Finally, Marathon Capitl raised GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $348.80.

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.