Lbp Am Sa Sells 11,477 Shares of GE Vernova Inc. $GEV

Lbp Am Sa lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 15.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 63,817 shares of the company’s stock after selling 11,477 shares during the quarter. Lbp Am Sa’s holdings in GE Vernova were worth $39,241,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares in the last quarter. State Street Corp lifted its position in shares of GE Vernova by 1.9% during the second quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares in the last quarter. Geode Capital Management LLC grew its position in GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after purchasing an additional 129,315 shares in the last quarter. Norges Bank purchased a new stake in GE Vernova in the 2nd quarter valued at about $1,809,220,000. Finally, Invesco Ltd. lifted its position in shares of GE Vernova by 26.3% during the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after buying an additional 462,038 shares in the last quarter.

GE Vernova Trading Down 0.7%

GEV opened at $657.26 on Monday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00. The company has a market cap of $178.33 billion, a PE ratio of 107.05, a price-to-earnings-growth ratio of 2.79 and a beta of 1.67. The company has a 50 day moving average of $639.17 and a 200 day moving average of $617.81.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. GE Vernova’s dividend payout ratio (DPR) is presently 32.57%.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a report on Thursday. Bank of America boosted their price target on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. BMO Capital Markets raised their price objective on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Morgan Stanley boosted their target price on shares of GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $649.00 price target (down previously from $816.00) on shares of GE Vernova in a report on Friday, January 9th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $701.62.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.