Legal & General Group Plc decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,466,657 shares of the company's stock after selling 215,527 shares during the quarter. Legal & General Group Plc owned about 0.53% of GE Vernova worth $482,427,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GEV. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth approximately $25,000. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of GE Vernova during the 4th quarter worth $30,000.
GE Vernova Stock Up 2.7 %
Shares of NYSE GEV traded up $8.45 during midday trading on Friday, hitting $318.40. The stock had a trading volume of 1,255,761 shares, compared to its average volume of 3,409,325. 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 $87.03 billion and a price-to-earnings ratio of 57.05. The company has a fifty day moving average price of $327.44 and a 200 day moving average price of $327.19.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly 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 net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is 17.99%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. 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 note on Tuesday, January 14th. Royal Bank of Canada dropped their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating for the company. Finally, Susquehanna assumed coverage on GE Vernova in a research report on Wednesday, April 2nd. They issued a "positive" rating and a $370.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $348.80.
Check Out Our Latest Research Report on GEV
GE Vernova Company 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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