GE Vernova Inc. (NYSE:GEV) Position Boosted by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 160.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 567,468 shares of the company's stock after purchasing an additional 349,659 shares during the period. Federated Hermes Inc. owned approximately 0.21% of GE Vernova worth $186,657,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GEV. Register Financial Advisors LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at $206,000. GPS Wealth Strategies Group LLC increased its position 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 in the last quarter. Yarbrough Capital LLC boosted its holdings in GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock worth $949,000 after acquiring an additional 1,160 shares in the last quarter. Legacy Bridge LLC increased its stake in GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock valued at $3,612,000 after purchasing an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after purchasing an additional 1,408 shares in the last quarter.

GE Vernova Stock Down 3.7 %

GEV stock traded down $12.13 during mid-day trading on Thursday, reaching $314.68. The company had a trading volume of 2,539,872 shares, compared to its average volume of 3,430,133. The stock's 50-day simple moving average is $328.44 and its two-hundred day simple moving average is $326.80. The stock has a market capitalization of $86.02 billion and a P/E ratio of 56.59. GE Vernova Inc. has a one year low of $128.25 and a one year high of $447.50.

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GE Vernova (NYSE:GEV - Get Free Report) last announced its 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 business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GEV shares. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Susquehanna started coverage on GE Vernova in a report on Wednesday, April 2nd. They set a "positive" rating and a $370.00 price objective on the stock. Guggenheim upgraded GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target for the company in a research report on Wednesday, March 5th. Barclays dropped their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Finally, Jefferies Financial Group lifted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $348.80.

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.