Prosperity Consulting Group LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Prosperity Consulting Group LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel.com reports. The fund acquired 707 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at about $1,109,720,000. Capital International Investors boosted its stake in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. FMR LLC increased its stake in GE Vernova by 3.4% during the 4th 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. Finally, Raymond James Financial Inc. acquired a new stake in GE Vernova during the 4th quarter worth approximately $219,187,000.

GE Vernova Price Performance

GEV stock opened at $369.79 on Tuesday. The company has a market cap of $100.93 billion and a price-to-earnings ratio of 66.51. The company has a fifty day moving average price of $318.79 and a 200 day moving average price of $334.09. GE Vernova Inc. has a 12 month low of $149.42 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the company earned ($0.47) earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Analyst Upgrades and Downgrades

Several research firms have commented on GEV. BMO Capital Markets dropped their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Robert W. Baird boosted their price objective on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group raised their target price 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. Six equities research 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 stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average 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.