First Trust Advisors LP grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,149 shares of the company's stock after purchasing an additional 19,531 shares during the period. First Trust Advisors LP owned about 0.06% of GE Vernova worth $57,283,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of GE Vernova in the 4th quarter worth approximately $1,109,720,000. Capital International Investors raised its stake in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after buying an additional 1,238,690 shares during the last quarter. FMR LLC increased its holdings in 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 buying an additional 814,155 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in GE Vernova in the fourth quarter worth about $219,187,000.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Guggenheim reaffirmed a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 17th. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Barclays lowered their price objective 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. Finally, Royal Bank of Canada cut their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $365.54.
Read Our Latest Stock Analysis on GE Vernova
GE Vernova Price Performance
NYSE:GEV opened at $326.94 on Wednesday. The company has a market capitalization of $89.37 billion and a price-to-earnings ratio of 58.80. The business has a 50 day moving average of $319.66 and a 200 day moving average of $330.98. GE Vernova Inc. has a 1-year low of $137.87 and a 1-year high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova's payout ratio is 17.99%.
GE Vernova Profile
(
Free Report)
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.
See Also
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