Fairfield Bush & CO. Invests $647,000 in GE Vernova Inc. (NYSE:GEV)

Fairfield Bush & CO. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,968 shares of the company’s stock, valued at approximately $647,000.

Other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its position in shares of GE Vernova by 64.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 379,833 shares of the company’s stock valued at $124,938,000 after buying an additional 149,235 shares in the last quarter. Capital Square LLC bought a new position in GE Vernova in the fourth quarter valued at about $249,000. NewEdge Advisors LLC raised its stake in GE Vernova by 61.4% during the fourth quarter. NewEdge Advisors LLC now owns 25,803 shares of the company’s stock worth $8,487,000 after acquiring an additional 9,818 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at approximately $67,519,000. Finally, Evergreen Capital Management LLC lifted its stake in GE Vernova by 4.5% in the 4th quarter. Evergreen Capital Management LLC now owns 1,888 shares of the company’s stock valued at $621,000 after purchasing an additional 82 shares during the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $328.92 on Thursday. GE Vernova Inc. has a 52-week low of $131.25 and a 52-week high of $447.50. The company has a fifty day moving average of $323.91 and a 200-day moving average of $328.68. 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 results 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 net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analyst Ratings Changes

GEV has been the topic of several research reports. Jefferies Financial Group boosted their price target on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $343.66.

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.