GE Vernova Inc. (NYSE:GEV) Stock Holdings Trimmed by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,278 shares of the company’s stock after selling 97 shares during the quarter. Summit Investment Advisors Inc.’s holdings in GE Vernova were worth $1,078,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in GE Vernova in the 4th quarter valued at about $1,109,720,000. Massachusetts Financial Services Co. MA lifted its stake in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the period. FMR LLC boosted its holdings in shares of 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. Raymond James Financial Inc. acquired a new position in shares of GE Vernova during the fourth quarter valued at approximately $219,187,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in GE Vernova by 555.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock worth $187,404,000 after purchasing an additional 482,787 shares in the last quarter.

GE Vernova Stock Down 1.6 %

GEV stock opened at $322.81 on Friday. The company has a 50 day moving average of $322.67 and a two-hundred day moving average of $329.15. The company has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06. GE Vernova Inc. has a 12-month low of $132.11 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova’s payout ratio is 17.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada decreased their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Barclays dropped their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Susquehanna started coverage on shares of GE Vernova in a report on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 price target for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven 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 company’s stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $357.13.

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.