46,405 Shares in GE Vernova Inc. (NYSE:GEV) Bought by USS Investment Management Ltd

USS Investment Management Ltd acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 46,405 shares of the company’s stock, valued at approximately $15,275,000.

A number of other large investors have also recently made changes to their positions in the company. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $27,000.

GE Vernova Stock Up 0.6%

Shares of GE Vernova stock opened at $449.36 on Wednesday. The company has a 50 day moving average price of $349.99 and a 200 day moving average price of $347.66. The firm has a market capitalization of $122.65 billion and a P/E ratio of 80.82. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $451.37.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The business 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%. GE Vernova’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEV. Robert W. Baird lifted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Susquehanna reissued a “positive” rating and set a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.62.

About GE Vernova

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.