Lazard Asset Management LLC Has $4.23 Million Position in GE Vernova Inc. (NYSE:GEV)

Lazard Asset Management LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 49.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,874 shares of the company’s stock after selling 12,393 shares during the period. Lazard Asset Management LLC’s holdings in GE Vernova were worth $4,234,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GEV. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter valued at $1,109,720,000. Capital International Investors raised its holdings in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 worth $432,309,000 after buying an additional 1,238,690 shares during the last quarter. FMR LLC raised its holdings in GE Vernova by 3.4% during the fourth 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 last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after buying an additional 690,513 shares during the last quarter.

GE Vernova Stock Down 1.5%

Shares of NYSE:GEV opened at $426.53 on Friday. The firm has a market capitalization of $116.41 billion and a PE ratio of 76.71. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The company has a 50-day moving average price of $341.15 and a two-hundred day moving average price of $344.40.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.47) earnings per share. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. GE Vernova’s dividend payout ratio is presently 14.41%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price objective on shares of GE Vernova from $436.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Robert W. Baird upped their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $373.22.

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.