Norinchukin Bank The Increases Position in GE Vernova Inc. (NYSE:GEV)

Norinchukin Bank The boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 12,310 shares of the company’s stock after purchasing an additional 1,060 shares during the period. Norinchukin Bank The’s holdings in GE Vernova were worth $4,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Cedar Mountain Advisors LLC lifted its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the 4th quarter worth approximately $30,000.

GE Vernova Stock Down 1.6 %

NYSE:GEV opened at $322.81 on Friday. GE Vernova Inc. has a 52-week low of $132.11 and a 52-week high of $447.50. The firm has a market cap of $88.24 billion and a P/E ratio of 58.06. The business’s 50-day moving average price is $321.67 and its 200 day moving average price is $330.15.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. 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 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Finally, CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Seven 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 data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $357.13.

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.