GE Vernova Inc. (NYSE:GEV) Stock Holdings Lessened by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 31.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,198 shares of the company’s stock after selling 553 shares during the period. Pinnacle Financial Partners Inc’s holdings in GE Vernova were worth $366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Norges Bank bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $1,109,720,000. Capital International Investors lifted its holdings in shares of GE Vernova by 25.3% in 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 during the last quarter. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA grew its stake in GE Vernova by 1,638.5% during the 4th 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. Finally, FMR LLC increased its position in GE Vernova by 3.4% in 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 period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a “buy” rating on the stock. Morgan Stanley lifted their price objective on shares of GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a research report on Tuesday, June 24th. Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Susquehanna restated a “positive” rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Barclays lifted their price target on GE Vernova from $500.00 to $550.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $440.04.

GE Vernova Stock Performance

GE Vernova stock opened at $517.35 on Friday. The firm has a market cap of $141.20 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 3.89 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $532.59. The firm’s 50 day moving average price is $458.30 and its two-hundred day moving average price is $381.43.

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, beating analysts’ consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.47) EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova’s payout ratio is 14.41%.

About GE Vernova

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.