Navigoe LLC Purchases New Stake in GE Vernova Inc. (NYSE:GEV)

Navigoe LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 84 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEV. FMR LLC raised its position in 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. Capital International Investors lifted its stake in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC boosted its holdings in GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Norges Bank bought a new position in GE Vernova in the 4th quarter worth $1,109,720,000. Finally, Northern Trust Corp lifted its position in shares of GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

GE Vernova Trading Up 0.2 %

GE Vernova stock opened at $370.94 on Wednesday. The company has a fifty day simple moving average of $319.02 and a 200-day simple moving average of $334.35. The stock has a market cap of $101.24 billion and a P/E ratio of 66.72. GE Vernova Inc. has a 12-month low of $149.42 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 annualized dividend and a yield of 0.27%. GE Vernova’s dividend payout ratio is presently 14.41%.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Jefferies Financial Group upped their target price on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Susquehanna upped their target price on shares of GE Vernova from $370.00 to $399.00 and gave the stock a “positive” rating in a research report on Thursday, April 24th. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. Royal Bank of Canada cut their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Six equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $369.22.

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.