Wood Tarver Financial Group LLC Purchases New Position in GE Vernova Inc. (NYSE:GEV)

Wood Tarver Financial Group LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 198 shares of the company’s stock, valued at approximately $65,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Capital International Investors lifted 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 valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the period. FMR LLC raised its stake in 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 buying an additional 814,155 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after purchasing an additional 690,513 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GEV. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Jefferies Financial Group boosted their price target on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Barclays dropped their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Susquehanna reiterated a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Royal Bank of Canada reduced their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Six investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $374.62.

GE Vernova Price Performance

Shares of NYSE GEV opened at $485.83 on Thursday. The stock has a market capitalization of $132.60 billion and a P/E ratio of 87.38. GE Vernova Inc. has a one year low of $150.01 and a one year high of $502.03. The firm’s 50 day simple moving average is $366.57 and its two-hundred day simple moving average is $353.37.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the company posted ($0.47) EPS. GE Vernova’s revenue for the quarter 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 fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova’s dividend payout ratio is currently 14.41%.

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.