OMERS ADMINISTRATION Corp Acquires 1,774 Shares of GE Vernova Inc. (NYSE:GEV)

OMERS ADMINISTRATION Corp raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,421 shares of the company’s stock after acquiring an additional 1,774 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in GE Vernova were worth $3,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Norges Bank purchased a new position in GE Vernova in the fourth quarter valued at about $1,109,720,000. Capital International Investors raised its stake in shares of GE Vernova by 25.3% during the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 valued at $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. FMR LLC boosted its stake in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in GE Vernova by 148.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after purchasing an additional 690,513 shares during the last quarter.

GE Vernova Trading Up 4.0%

Shares of NYSE:GEV opened at $433.30 on Wednesday. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50. The business has a 50 day moving average of $335.14 and a two-hundred day moving average of $342.83. The company has a market capitalization of $118.26 billion and a PE ratio of 77.93.

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

GE Vernova Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.23%. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Royal Bank of Canada decreased their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research report on Thursday, March 27th. Finally, Citigroup lowered their target price on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Six 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Company 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.