Capital Investment Advisors LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Capital Investment Advisors LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,054 shares of the company’s stock after purchasing an additional 55 shares during the period. Capital Investment Advisors LLC’s holdings in GE Vernova were worth $932,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the period. Capital International Investors boosted 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 worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC boosted its position in shares of GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the period. Norges Bank purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp boosted its position in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares during the period.

GE Vernova Price Performance

NYSE GEV opened at $480.39 on Tuesday. The firm’s fifty day moving average price is $392.70 and its 200 day moving average price is $361.82. The company has a market capitalization of $131.12 billion, a price-to-earnings ratio of 86.40, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $500.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion for 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% on a year-over-year basis. During the same period last year, the firm posted ($0.47) EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price objective for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Robert W. Baird increased their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Barclays increased their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Finally, Truist Financial set a $440.00 target price on shares of GE Vernova in a report on Thursday, March 27th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $387.78.

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.