FIL Ltd Reduces Position in GE Vernova Inc. (NYSE:GEV)

FIL Ltd trimmed its position in GE Vernova Inc. (NYSE:GEV) by 96.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,704 shares of the company’s stock after selling 54,157 shares during the quarter. FIL Ltd’s holdings in GE Vernova were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings 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 acquiring an additional 814,155 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% in 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 during the last quarter. Norges Bank purchased a new position in GE Vernova during the 4th quarter valued at about $1,109,720,000. Franklin Resources Inc. raised its position in GE Vernova by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in GE Vernova by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company’s stock worth $552,404,000 after buying an additional 49,821 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GEV shares. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $348.80.

GE Vernova Price Performance

GEV stock opened at $320.99 on Monday. The stock has a market capitalization of $87.74 billion and a P/E ratio of 57.73. GE Vernova Inc. has a 1-year low of $128.25 and a 1-year high of $447.50. The business has a fifty day moving average price of $326.73 and a 200-day moving average price of $328.18.

GE Vernova (NYSE:GEV) last issued its 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). The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 17.99%.

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.