Global Assets Advisory LLC Sells 240 Shares of GE Vernova Inc. (NYSE:GEV)

Global Assets Advisory LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 11.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,829 shares of the company’s stock after selling 240 shares during the quarter. Global Assets Advisory LLC’s holdings in GE Vernova were worth $620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Norges Bank acquired a new position in GE Vernova during the fourth quarter worth $1,109,720,000. Capital International Investors boosted its stake 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 worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of GE Vernova by 1,638.5% in 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 acquiring an additional 1,238,690 shares in the last quarter. FMR LLC increased its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in GE Vernova during the fourth quarter worth about $219,187,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. BMO Capital Markets dropped their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Susquehanna upped their target price on shares of GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating in a report on Thursday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.22.

GE Vernova Stock Up 1.0 %

GEV stock opened at $398.03 on Friday. The company’s 50-day moving average price is $330.33 and its two-hundred day moving average price is $340.61. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The firm has a market cap of $108.64 billion and a P/E ratio of 71.59.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.47) EPS. Equities 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. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. GE Vernova’s payout ratio is currently 14.41%.

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.