Benjamin Edwards Inc. Increases Holdings in GE Vernova Inc. (NYSE:GEV)

Benjamin Edwards Inc. raised its stake in GE Vernova Inc. (NYSE:GEV) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,535 shares of the company’s stock after buying an additional 42 shares during the period. Benjamin Edwards Inc.’s holdings in GE Vernova were worth $834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at about $1,109,720,000. Capital International Investors raised its position in shares of 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 buying an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA grew its position in GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the period. FMR LLC grew its position in GE Vernova by 3.4% in the fourth 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 period. Finally, Raymond James Financial Inc. acquired a new stake in GE Vernova during the fourth quarter worth $219,187,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of GE Vernova from $436.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. BMO Capital Markets decreased their price objective 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. Morgan Stanley reiterated an “overweight” rating and issued a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Finally, Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.22.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $394.28 on Friday. The stock’s 50-day simple moving average is $328.62 and its 200-day simple moving average is $339.77. The firm has a market capitalization of $107.61 billion and a PE ratio of 70.91. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) EPS. On average, 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 company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) 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.