BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $17.31 Million Stake in GE Vernova Inc. (NYSE:GEV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 15.1% in the fourth quarter, Holdings Channel reports. The fund owned 52,620 shares of the company’s stock after buying an additional 6,890 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GE Vernova were worth $17,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC raised its stake in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the last quarter. Legacy Bridge LLC raised its stake in GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after purchasing an additional 4,776 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in GE Vernova by 16.6% in the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after purchasing an additional 1,408 shares during the period. Finally, Principal Securities Inc. grew its position in GE Vernova by 29.0% in the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company’s stock worth $622,000 after purchasing an additional 425 shares during the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $453.88 on Thursday. The stock’s 50 day simple moving average is $352.79 and its 200 day simple moving average is $348.40. GE Vernova Inc. has a one year low of $150.01 and a one year high of $463.00. The firm has a market cap of $123.88 billion and a PE ratio of 81.63.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEV. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Robert W. Baird lifted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Finally, TD Cowen reduced their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Six equities research 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 company. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average 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.