OneDigital Investment Advisors LLC cut its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,017 shares of the company's stock after selling 2,601 shares during the period. OneDigital Investment Advisors LLC's holdings in GE Vernova were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its stake in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Capital International Investors grew its position in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank bought a new stake in GE Vernova during the 4th quarter valued at approximately $1,109,720,000. Finally, Franklin Resources Inc. boosted its stake in GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock worth $533,257,000 after purchasing an additional 71,067 shares during the period.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on GEV. Susquehanna began coverage on shares of GE Vernova in a research note on Wednesday, April 2nd. They set a "positive" rating and a $370.00 target price for the company. Jefferies Financial Group boosted their target price on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Barclays reduced their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, BMO Capital Markets lowered their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $365.54.
Check Out Our Latest Stock Report on GEV
GE Vernova Stock Performance
Shares of NYSE:GEV opened at $335.99 on Thursday. The firm's 50 day simple moving average is $319.03 and its 200-day simple moving average is $331.01. GE Vernova Inc. has a one year low of $138.67 and a one year high of $447.50. The firm has a market cap of $91.84 billion and a PE ratio of 60.43.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.45 by $0.46. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted ($0.47) EPS. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova's dividend payout ratio is currently 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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