GE Vernova Inc. (NYSE:GEV) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in GE Vernova Inc. (NYSE:GEV) by 24.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,538 shares of the company’s stock after purchasing an additional 4,451 shares during the period. Quantinno Capital Management LP’s holdings in GE Vernova were worth $7,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Norges Bank acquired a new stake in GE Vernova during the fourth quarter worth $1,109,720,000. Capital International Investors increased its stake in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. FMR LLC increased its stake in GE Vernova by 3.4% during the fourth 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after acquiring an additional 690,513 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $426.53 on Friday. The company has a market capitalization of $116.41 billion and a price-to-earnings ratio of 76.71. The business has a 50-day moving average of $341.15 and a two-hundred day moving average of $344.40. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the business earned ($0.47) EPS. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts expect 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. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Thursday, April 17th. GE Vernova’s payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GEV shares. Citigroup cut their target price on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley reissued an “overweight” rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Barclays dropped their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. TD Cowen dropped their price objective on 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, JPMorgan Chase & Co. dropped their price objective on GE Vernova from $436.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. 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, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $373.22.

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.