Dodge & Cox decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,322 shares of the company's stock after selling 3,018 shares during the period. Dodge & Cox owned about 0.07% of GE Vernova worth $58,985,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the period. Geode Capital Management LLC boosted its stake in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Norges Bank acquired a new position in GE Vernova during the fourth quarter worth about $1,109,720,000. Franklin Resources Inc. boosted its holdings in shares of GE Vernova by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock worth $533,257,000 after purchasing an additional 71,067 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of GE Vernova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company's stock valued at $552,404,000 after purchasing an additional 49,821 shares in the last quarter.
GE Vernova Stock Down 1.6 %
GEV stock traded down $5.36 during midday trading on Friday, hitting $322.81. 2,859,246 shares of the company traded hands, compared to its average volume of 3,367,032. The business has a 50 day simple moving average of $321.67 and a 200-day simple moving average of $329.61. GE Vernova Inc. has a twelve month low of $132.11 and a twelve month high of $447.50. The stock has a market capitalization of $88.24 billion and a price-to-earnings ratio of 58.06.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is currently 17.99%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on GEV. CICC Research initiated coverage on GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating on the stock. Susquehanna assumed coverage on shares of GE Vernova in a report on Wednesday, April 2nd. They issued a "positive" rating and a $370.00 price objective on the stock. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Bank of America increased their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $357.13.
Check Out Our Latest Research Report on GE Vernova
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.
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