GE Vernova Inc. (NYSE:GEV) Stake Trimmed by Front Street Capital Management Inc.

Front Street Capital Management Inc. reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,445 shares of the company's stock after selling 2,138 shares during the quarter. GE Vernova makes up about 3.6% of Front Street Capital Management Inc.'s investment portfolio, making the stock its 10th largest holding. Front Street Capital Management Inc.'s holdings in GE Vernova were worth $20,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Norges Bank bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $1,109,720,000. Capital International Investors increased its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. FMR LLC boosted its holdings in shares of GE Vernova by 3.4% during the 4th 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 last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of GE Vernova during the fourth quarter valued at about $219,187,000.

GE Vernova Stock Down 1.6 %

Shares of GEV stock opened at $322.81 on Friday. The company's 50 day moving average is $322.67 and its 200 day moving average is $329.15. The firm has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06. GE Vernova Inc. has a 52-week low of $132.11 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. 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 currently 17.99%.

Analysts Set New Price Targets

A number of research firms recently commented on GEV. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $357.13.

GE Vernova Profile

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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