First Manhattan CO. LLC. Sells 524 Shares of GE Vernova Inc. (NYSE:GEV)

First Manhattan CO. LLC. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,873 shares of the company’s stock after selling 524 shares during the period. First Manhattan CO. LLC.’s holdings in GE Vernova were worth $11,441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GEV. Norges Bank bought a new position in GE Vernova during the 4th quarter valued at $1,109,720,000. Capital International Investors lifted its position 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. FMR LLC grew its position in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after purchasing an additional 814,155 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in GE Vernova in the 4th quarter valued at about $219,187,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GEV shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Royal Bank of Canada reduced their price objective 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. Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Finally, Barclays dropped their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.22.

GE Vernova Price Performance

Shares of GEV opened at $398.03 on Friday. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $447.50. The company has a market capitalization of $108.64 billion and a P/E ratio of 71.59. The firm’s 50 day simple moving average is $330.33 and its 200 day simple moving average is $340.61.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the business earned ($0.47) earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

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.