GE Vernova Inc. (NYSE:GEV) Shares Sold by Electron Capital Partners LLC

Electron Capital Partners LLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 33.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 544,671 shares of the company’s stock after selling 276,165 shares during the quarter. GE Vernova accounts for approximately 9.3% of Electron Capital Partners LLC’s portfolio, making the stock its largest position. Electron Capital Partners LLC owned about 0.20% of GE Vernova worth $179,159,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GEV. FMR LLC raised 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 acquiring an additional 814,155 shares in the last quarter. Capital International Investors boosted its position 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 valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC increased its position in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after buying an additional 195,828 shares during the period. Norges Bank acquired a new position in GE Vernova during the fourth quarter worth approximately $1,109,720,000. Finally, Northern Trust Corp lifted its stake in GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after buying an additional 343,837 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GEV. Barclays dropped their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Robert W. Baird increased their target price on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a report on Thursday. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, BMO Capital Markets dropped their price objective 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 equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.22.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $369.79 on Tuesday. GE Vernova Inc. has a twelve month low of $149.42 and a twelve month high of $447.50. The firm has a market cap of $100.93 billion and a P/E ratio of 66.51. The firm’s 50-day simple moving average is $318.79 and its 200-day simple moving average is $334.09.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted ($0.47) EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. 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.