Westwood Holdings Group Inc. Purchases 9,505 Shares of GE Vernova Inc. (NYSE:GEV)

Westwood Holdings Group Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 216.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,887 shares of the company’s stock after purchasing an additional 9,505 shares during the period. Westwood Holdings Group Inc.’s holdings in GE Vernova were worth $4,568,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Capital International Investors increased its holdings in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC increased its holdings in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank bought a new position in GE Vernova during the 4th quarter worth about $1,109,720,000. Finally, Northern Trust Corp increased its holdings in GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock worth $865,126,000 after purchasing an additional 343,837 shares in the last quarter.

GE Vernova Stock Up 0.6%

Shares of GEV stock opened at $449.36 on Wednesday. The firm has a 50 day moving average price of $349.99 and a two-hundred day moving average price of $347.66. The company has a market capitalization of $122.65 billion and a PE ratio of 80.82. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $451.37.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business posted ($0.47) earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.22%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Jefferies Financial Group increased their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, 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 note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average 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.