Ancora Advisors LLC Purchases 909 Shares of GE Vernova Inc. (NYSE:GEV)

Ancora Advisors LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 60.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,414 shares of the company’s stock after acquiring an additional 909 shares during the quarter. Ancora Advisors LLC’s holdings in GE Vernova were worth $794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its stake in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC increased its position in GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Guggenheim restated a “buy” rating and issued a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Morgan Stanley reissued an “overweight” rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Jefferies Financial Group lifted their price objective on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $369.22.

GE Vernova Stock Performance

Shares of GEV opened at $401.06 on Tuesday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The firm’s 50-day simple moving average is $324.11 and its 200 day simple moving average is $338.05. The firm has a market cap of $109.46 billion and a P/E ratio of 72.13.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 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 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

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.