GE Vernova Inc. (NYSE:GEV) Stock Position Boosted by True Wealth Design LLC

True Wealth Design LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 117.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 135 shares of the company’s stock after acquiring an additional 73 shares during the quarter. True Wealth Design LLC’s holdings in GE Vernova were worth $44,000 at the end of the most recent reporting period.

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

GE Vernova Stock Performance

GEV stock opened at $428.63 on Friday. The stock has a market cap of $116.99 billion and a P/E ratio of 77.09. The firm has a 50 day simple moving average of $344.05 and a 200 day simple moving average of $345.63. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS 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 net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GEV shares. Jefferies Financial Group raised their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. BMO Capital Markets reduced their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Robert W. Baird raised their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Johnson Rice started coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $374.62.

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.