GE Vernova Inc. (NYSE:GEV) Shares Sold by Kelly Lawrence W & Associates Inc. CA

Kelly Lawrence W & Associates Inc. CA lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 373 shares of the company’s stock after selling 31 shares during the quarter. Kelly Lawrence W & Associates Inc. CA’s holdings in GE Vernova were worth $123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Capital International Investors increased 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 purchasing an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA raised 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 buying an additional 1,238,690 shares in the last quarter. FMR LLC lifted 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 buying an additional 814,155 shares during the period. Finally, Raymond James Financial Inc. bought a new position in GE Vernova during the fourth quarter valued at about $219,187,000.

GE Vernova Trading Down 1.6 %

Shares of GEV stock opened at $322.81 on Friday. The company has a market capitalization of $88.24 billion and a P/E ratio of 58.06. GE Vernova Inc. has a 12 month low of $132.11 and a 12 month high of $447.50. The stock has a 50 day moving average of $321.67 and a two-hundred day moving average of $330.15.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio is 17.99%.

Analyst Ratings Changes

A number of brokerages have weighed in on GEV. Susquehanna began 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. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on GE Vernova from $436.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.