BROOKFIELD Corp ON Invests $3.46 Million in GE Vernova Inc. (NYSE:GEV)

BROOKFIELD Corp ON purchased a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,529 shares of the company’s stock, valued at approximately $3,463,000.

Several other institutional investors also recently bought and sold shares of GEV. World Investment Advisors LLC lifted its stake in shares of GE Vernova by 41.4% in the third quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock worth $733,000 after buying an additional 842 shares in the last quarter. Tidal Investments LLC lifted its position in GE Vernova by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock valued at $1,854,000 after acquiring an additional 374 shares in the last quarter. Principal Financial Group Inc. boosted its stake in GE Vernova by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 577,284 shares of the company’s stock valued at $147,196,000 after purchasing an additional 12,323 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of GE Vernova by 15.3% in the 4th quarter. CWA Asset Management Group LLC now owns 1,338 shares of the company’s stock worth $440,000 after purchasing an additional 178 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its holdings in shares of GE Vernova by 1.7% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 2,691 shares of the company’s stock worth $885,000 after purchasing an additional 45 shares in the last quarter.

GE Vernova Trading Up 1.2 %

NYSE GEV opened at $401.06 on Tuesday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The stock has a market cap of $109.46 billion and a PE ratio of 72.13. The stock’s 50 day moving average is $324.11 and its 200 day moving average is $338.05.

GE Vernova (NYSE:GEV) last released its 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 firm had revenue of $8.03 billion for 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

Several research firms recently commented on GEV. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. Jefferies Financial Group raised their price target on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Guggenheim reiterated a “buy” rating and issued a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, Marathon Capitl raised 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 given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.22.

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.