First Manhattan CO. LLC. Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

First Manhattan CO. LLC. lessened its stake in GE Vernova Inc. (NYSE:GEV) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,873 shares of the company’s stock after selling 524 shares during the period. First Manhattan CO. LLC.’s holdings in GE Vernova were worth $11,441,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Fred Alger Management LLC purchased a new stake in GE Vernova during the 4th quarter valued at $3,256,000. Clark Capital Management Group Inc. boosted its holdings in shares of GE Vernova by 19.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 22,507 shares of the company’s stock worth $7,403,000 after purchasing an additional 3,742 shares during the period. Cladis Investment Advisory LLC grew its stake in shares of GE Vernova by 4.5% in the fourth quarter. Cladis Investment Advisory LLC now owns 5,338 shares of the company’s stock worth $1,756,000 after purchasing an additional 229 shares during the last quarter. Clarity Asset Management Inc. purchased a new position in GE Vernova during the 4th quarter valued at about $28,000. Finally, Duquesne Family Office LLC raised its position in GE Vernova by 241.0% during the 4th quarter. Duquesne Family Office LLC now owns 99,750 shares of the company’s stock valued at $32,811,000 after purchasing an additional 70,500 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEV. Jefferies Financial Group upped their target price on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. 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. TD Cowen decreased their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.22.

GE Vernova Stock Up 1.0 %

Shares of GEV stock opened at $398.03 on Friday. The company has a 50 day moving average price of $330.33 and a 200-day moving average price of $340.61. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The firm has a market capitalization of $108.64 billion and a PE ratio of 71.59.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned ($0.47) EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.25%. GE Vernova’s payout ratio is 14.41%.

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.