GE Vernova Inc. (NYSE:GEV) to Issue $0.25 Quarterly Dividend

GE Vernova Inc. (NYSE:GEV - Get Free Report) announced a quarterly dividend on Tuesday, April 8th, RTT News reports. Shareholders of record on Friday, April 18th will be paid a dividend of 0.25 per share on Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Thursday, April 17th.

GE Vernova Trading Up 3.6 %

Shares of NYSE:GEV traded up $11.04 during mid-day trading on Friday, hitting $320.99. 2,799,595 shares of the company traded hands, compared to its average volume of 3,407,637. The stock has a 50-day moving average price of $326.73 and a two-hundred day moving average price of $327.64. GE Vernova has a 12-month low of $128.25 and a 12-month high of $447.50. The stock has a market cap of $87.74 billion and a P/E ratio of 57.73.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results 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 net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

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Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Royal Bank of Canada cut their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price 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. Johnson Rice started coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Finally, CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating on the stock. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $348.80.

Institutional Trading of GE Vernova

An institutional investor recently raised its position in GE Vernova stock. Brighton Jones LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,315 shares of the company's stock after purchasing an additional 753 shares during the period. Brighton Jones LLC's holdings in GE Vernova were worth $1,091,000 at the end of the most recent reporting period.

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.