FMR LLC raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,861,833 shares of the company's stock after buying an additional 814,155 shares during the period. GE Vernova makes up approximately 0.5% of FMR LLC's holdings, making the stock its 25th largest holding. FMR LLC owned about 9.02% of GE Vernova worth $8,177,803,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Cedar Mountain Advisors LLC boosted its position in 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 acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC boosted its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its stake in shares of 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 acquiring an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova during the 4th quarter worth about $30,000.
GE Vernova Stock Down 2.9 %
Shares of GEV stock traded down $9.47 during trading hours on Thursday, reaching $317.34. 2,696,529 shares of the company's stock were exchanged, compared to its average volume of 3,430,769. The stock has a market capitalization of $86.74 billion and a P/E ratio of 56.56. GE Vernova Inc. has a fifty-two week low of $128.25 and a fifty-two week high of $447.50. The business has a fifty day moving average price of $328.44 and a 200-day moving average price of $326.80.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 paid 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 dividend payout ratio is 17.99%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Royal Bank of Canada dropped their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Finally, Guggenheim raised shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price objective on the stock in a report on Wednesday, March 5th. Seven 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $348.80.
Get Our Latest Analysis on GEV
About GE Vernova
(
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
Before you consider GE Vernova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GE Vernova wasn't on the list.
While GE Vernova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
