Belpointe Asset Management LLC Has $435,000 Stake in GE Vernova Inc. (NYSE:GEV)

Belpointe Asset Management LLC lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 38.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,321 shares of the company’s stock after selling 811 shares during the quarter. Belpointe Asset Management LLC’s holdings in GE Vernova were worth $435,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GEV. FMR LLC raised its holdings in shares of 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 period. Geode Capital Management LLC raised its stake in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after purchasing an additional 195,828 shares during the period. Norges Bank bought a new stake in shares of GE Vernova in the fourth quarter valued at about $1,109,720,000. Franklin Resources Inc. boosted its position in shares of GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after buying an additional 71,067 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of GE Vernova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company’s stock worth $552,404,000 after buying an additional 49,821 shares during the period.

GE Vernova Price Performance

GE Vernova stock opened at $328.92 on Thursday. The business has a 50 day moving average of $323.91 and a 200-day moving average of $328.68. GE Vernova Inc. has a 1 year low of $131.25 and a 1 year high of $447.50. The company has a market capitalization of $89.91 billion and a P/E ratio of 59.16.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders 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 0.30%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a research note on Wednesday, March 5th. Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Robert W. Baird cut their price target on shares of GE Vernova from $448.00 to $387.00 and set an “outperform” rating on the stock in a research report on Tuesday. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Susquehanna initiated coverage on GE Vernova in a research report on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $343.66.

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.