Edgar Lomax Co. VA Has $7.99 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Edgar Lomax Co. VA decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,281 shares of the company’s stock after selling 480 shares during the period. Edgar Lomax Co. VA’s holdings in GE Vernova were worth $7,987,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GEV. First Trust Advisors LP raised its stake in GE Vernova by 12.6% in the 4th quarter. First Trust Advisors LP now owns 174,149 shares of the company’s stock valued at $57,283,000 after acquiring an additional 19,531 shares during the period. GeoWealth Management LLC raised its position in shares of GE Vernova by 22.4% in the fourth quarter. GeoWealth Management LLC now owns 2,448 shares of the company’s stock valued at $805,000 after purchasing an additional 448 shares during the period. Capital International Ltd. CA lifted its stake in shares of GE Vernova by 57.1% during the 4th quarter. Capital International Ltd. CA now owns 20,581 shares of the company’s stock worth $6,770,000 after buying an additional 7,481 shares during the last quarter. Capital Group Investment Management PTE. LTD. boosted its holdings in shares of GE Vernova by 52.5% during the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 4,290 shares of the company’s stock worth $1,411,000 after buying an additional 1,476 shares during the period. Finally, Capital Group Private Client Services Inc. grew its stake in GE Vernova by 16.3% in the 4th quarter. Capital Group Private Client Services Inc. now owns 315,548 shares of the company’s stock valued at $103,793,000 after buying an additional 44,234 shares during the last quarter.

GE Vernova Trading Down 1.6 %

Shares of NYSE GEV opened at $322.81 on Friday. The stock has a 50-day moving average price of $321.67 and a two-hundred day moving average price of $329.61. GE Vernova Inc. has a 12 month low of $132.11 and a 12 month high of $447.50. The company has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GEV shares. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday. Susquehanna initiated coverage on GE Vernova in a report on Wednesday, April 2nd. They set a “positive” rating and a $370.00 target price for the company. Finally, Barclays decreased their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Seven 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 company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $357.13.

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.