Argent Trust Co Purchases 39 Shares of GE Vernova Inc. (NYSE:GEV)

Argent Trust Co boosted its position in GE Vernova Inc. (NYSE:GEV) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the company’s stock after purchasing an additional 39 shares during the quarter. Argent Trust Co’s holdings in GE Vernova were worth $830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its holdings in shares of 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 purchasing an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $30,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $320.99 on Friday. The stock has a fifty day simple moving average of $326.73 and a two-hundred day simple moving average of $327.64. The firm has a market capitalization of $87.74 billion and a PE ratio of 57.73. GE Vernova Inc. has a 52-week low of $128.25 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last released 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 business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays reduced their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Susquehanna initiated coverage on shares of GE Vernova in a research note on Wednesday, April 2nd. They set a “positive” rating and a $370.00 price objective for the company. Finally, CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating 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 stock has an average rating of “Moderate Buy” and an average price target of $348.80.

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.