Eagle Global Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Eagle Global Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,800 shares of the company’s stock, valued at approximately $8,815,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of GE Vernova during the fourth quarter valued at about $1,109,720,000. Capital International Investors raised its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. FMR LLC lifted 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 buying an additional 814,155 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $219,187,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on GEV shares. JPMorgan Chase & Co. dropped their price target on GE Vernova from $436.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Susquehanna boosted their price target on shares of GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating in a research report on Thursday, April 24th. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.22.

GE Vernova Trading Down 0.0 %

GE Vernova stock opened at $401.09 on Wednesday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The stock has a fifty day simple moving average of $325.61 and a two-hundred day simple moving average of $338.49. The firm has a market cap of $109.47 billion and a price-to-earnings ratio of 72.14.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. 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 analysts’ expectations of $7.56 billion. During the same period last year, the firm posted ($0.47) earnings per share. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. GE Vernova’s payout ratio is 14.41%.

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.