GE Vernova Inc. (NYSE:GEV) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,535 shares of the company’s stock after selling 1,110 shares during the quarter. Scotia Capital Inc.’s holdings in GE Vernova were worth $4,452,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new position in GE Vernova during the 4th quarter worth about $25,000. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new stake in GE Vernova during the fourth quarter worth about $30,000.

GE Vernova Trading Up 3.6 %

Shares of GEV opened at $320.99 on Friday. The company’s 50 day simple moving average is $326.73 and its 200-day simple moving average is $327.64. GE Vernova Inc. has a 12-month low of $128.25 and a 12-month high of $447.50. The firm has a market cap of $87.74 billion and a PE ratio of 57.73.

GE Vernova (NYSE:GEV) last issued 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 for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GEV. Bank of America lifted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Susquehanna began coverage on shares of GE Vernova in a research note on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.80.

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.