Bank of Nova Scotia raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 123.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,667 shares of the company's stock after purchasing an additional 44,074 shares during the period. Bank of Nova Scotia's holdings in GE Vernova were worth $26,205,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of GEV. Howard Capital Management Group LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $213,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of GE Vernova in the third quarter valued at about $1,568,000. National Bank of Canada FI boosted its stake in shares of GE Vernova by 17.0% during the 3rd quarter. National Bank of Canada FI now owns 10,749 shares of the company's stock worth $2,741,000 after acquiring an additional 1,559 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in GE Vernova by 4.1% during the third quarter. Orion Portfolio Solutions LLC now owns 8,549 shares of the company's stock worth $2,180,000 after purchasing an additional 334 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in GE Vernova by 45.7% in the 3rd quarter. MML Investors Services LLC now owns 30,418 shares of the company's stock valued at $7,756,000 after acquiring an additional 9,537 shares during the last quarter.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on GEV shares. Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target for the company in a research report on Wednesday, March 5th. BMO Capital Markets cut their price target on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group raised their price objective on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Finally, Barclays decreased their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Seven investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $348.80.
Check Out Our Latest Stock Analysis on GEV
GE Vernova Stock Performance
Shares of NYSE GEV traded up $3.36 during mid-day trading on Monday, reaching $324.79. The company had a trading volume of 789,675 shares, compared to its average volume of 3,396,035. GE Vernova Inc. has a twelve month low of $128.25 and a twelve month high of $447.50. The stock's 50 day moving average is $326.73 and its 200-day moving average is $328.18. The stock has a market capitalization of $88.78 billion and a PE ratio of 58.42.
GE Vernova (NYSE:GEV - Get Free Report) last posted its 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). 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 for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued 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 is Thursday, April 17th. GE Vernova's payout ratio is 17.99%.
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.
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