GE Vernova Inc. (NYSE:GEV) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 11.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,660 shares of the company’s stock after acquiring an additional 1,361 shares during the period. Crossmark Global Holdings Inc.’s holdings in GE Vernova were worth $4,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in 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 in the last quarter. 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 worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC raised 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 last quarter. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at $1,109,720,000. Finally, Northern Trust Corp increased its holdings 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 buying an additional 343,837 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on GEV shares. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and upped their price target for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Barclays increased their price target on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Bank of America increased their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.13.

GE Vernova Trading Down 0.0%

Shares of NYSE GEV opened at $530.09 on Wednesday. The firm has a market capitalization of $144.68 billion, a PE ratio of 76.38, a PEG ratio of 4.08 and a beta of 1.86. GE Vernova Inc. has a one year low of $150.01 and a one year high of $537.22. The business has a 50-day moving average price of $467.60 and a two-hundred day moving average price of $385.87.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm earned ($0.47) EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s payout ratio is presently 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.