Scotia Capital Inc. Sells 1,110 Shares of GE Vernova Inc. (NYSE:GEV)

Scotia Capital Inc. lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,535 shares of the company's stock after selling 1,110 shares during the period. Scotia Capital Inc.'s holdings in GE Vernova were worth $4,452,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC lifted its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares during the period. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter worth about $25,000. Fairway Wealth LLC lifted its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Analyst Ratings Changes

GEV has been the topic of several analyst reports. William Blair restated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. 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. CICC Research assumed coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating on the stock. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $343.66.

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GE Vernova Trading Up 2.0 %

GEV stock traded up $6.42 during mid-day trading on Tuesday, hitting $328.72. 1,631,055 shares of the company were exchanged, compared to its average volume of 3,394,140. The business has a 50 day simple moving average of $325.81 and a 200-day simple moving average of $328.68. The stock has a market capitalization of $89.85 billion and a PE ratio of 59.12. GE Vernova Inc. has a 1-year low of $128.25 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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). 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 during the quarter, compared to analyst estimates of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.30%. GE Vernova's dividend payout ratio is presently 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.