GE Vernova Inc. (NYSE:GEV) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 55.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,874 shares of the company’s stock after purchasing an additional 5,675 shares during the period. Tower Research Capital LLC TRC’s holdings in GE Vernova were worth $5,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in GE Vernova during the 4th quarter worth approximately $1,109,720,000. Capital International Investors raised its stake in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of 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 purchasing an additional 1,238,690 shares in the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 814,155 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in GE Vernova during the 4th quarter worth $219,187,000.

GE Vernova Stock Down 1.6 %

Shares of NYSE:GEV opened at $322.81 on Monday. The company’s 50-day moving average price is $321.67 and its 200 day moving average price is $330.67. The company has a market cap of $88.24 billion and a PE ratio of 58.06. GE Vernova Inc. has a fifty-two week low of $132.11 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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). 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 the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova’s payout ratio is 17.99%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. Royal Bank of Canada decreased their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Finally, BMO Capital Markets reduced their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Seven investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $357.13.

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.