Ontario Teachers Pension Plan Board Invests $1.70 Million in GE Vernova Inc. (NYSE:GEV)

Ontario Teachers Pension Plan Board purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,181 shares of the company's stock, valued at approximately $1,704,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guggenheim Capital LLC lifted its holdings in shares of GE Vernova by 63.5% in the fourth quarter. Guggenheim Capital LLC now owns 6,077 shares of the company's stock valued at $1,999,000 after purchasing an additional 2,361 shares in the last quarter. Chiron Investment Management LLC purchased a new position in GE Vernova during the fourth quarter worth $2,004,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of GE Vernova in the fourth quarter worth $1,831,000. Tribune Investment Group LP purchased a new stake in shares of GE Vernova in the fourth quarter valued at $9,868,000. Finally, Strategies Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the fourth quarter valued at $538,000.

GE Vernova Price Performance

GE Vernova stock traded down $5.36 during midday trading on Friday, hitting $322.81. 2,859,246 shares of the stock were exchanged, compared to its average volume of 3,367,032. The company has a 50 day moving average price of $321.67 and a two-hundred day moving average price of $329.61. The firm has a market cap of $88.24 billion and a P/E ratio of 58.06. GE Vernova Inc. has a 1 year low of $132.11 and a 1 year 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 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% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GEV. BMO Capital Markets reduced their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. decreased their target price on shares of GE Vernova from $436.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Baird R W raised GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group lifted their price objective on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Barclays decreased their price target 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. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $357.13.

GE Vernova Company 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.