Clean Energy Transition LLP Sells 253,882 Shares of GE Vernova Inc. (NYSE:GEV)

Clean Energy Transition LLP lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 38.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 398,549 shares of the company's stock after selling 253,882 shares during the quarter. GE Vernova makes up about 4.9% of Clean Energy Transition LLP's holdings, making the stock its 4th biggest position. Clean Energy Transition LLP owned about 0.14% of GE Vernova worth $131,095,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at $1,109,720,000. Massachusetts Financial Services Co. MA grew its position in shares of GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the period. 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. Raymond James Financial Inc. acquired a new position in GE Vernova in the fourth quarter valued at $219,187,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in GE Vernova by 555.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company's stock worth $187,404,000 after buying an additional 482,787 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating on the stock. BMO Capital Markets lowered their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Finally, Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $343.66.

GE Vernova Price Performance

Shares of GEV stock traded down $3.95 on Wednesday, hitting $324.61. 2,099,556 shares of the stock traded hands, compared to its average volume of 3,390,149. The company's fifty day moving average is $324.89 and its 200 day moving average is $328.68. GE Vernova Inc. has a 1-year low of $128.25 and a 1-year high of $447.50. The company has a market capitalization of $88.73 billion and a PE ratio of 58.38.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is 17.99%.

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.