Ethic Inc. Takes $4.60 Million Position in GE Vernova Inc. (NYSE:GEV)

Ethic Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,987 shares of the company’s stock, valued at approximately $4,601,000.

Several other large investors have also recently bought and sold shares of GEV. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $25,000. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at $27,000.

GE Vernova Trading Up 1.0 %

Shares of NYSE GEV opened at $398.03 on Friday. The business has a fifty day simple moving average of $330.33 and a 200 day simple moving average of $341.03. The firm has a market capitalization of $108.64 billion and a price-to-earnings ratio of 71.59. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company 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 firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share 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. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. GE Vernova’s dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

A number of research firms recently issued reports on GEV. Citigroup reduced their price objective on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets dropped their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $369.22.

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.