GE Vernova Inc. (NYSE:GEV) Shares Purchased by Baird Financial Group Inc.

Baird Financial Group Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,556,643 shares of the company’s stock after buying an additional 78,201 shares during the quarter. GE Vernova comprises 1.0% of Baird Financial Group Inc.’s holdings, making the stock its 20th largest position. Baird Financial Group Inc.’s holdings in GE Vernova were worth $512,027,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its holdings in 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 acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC lifted its stake in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $27,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $396.48 on Friday. The business has a 50-day moving average of $322.79 and a two-hundred day moving average of $336.70. The company has a market capitalization of $108.21 billion and a price-to-earnings ratio of 71.31. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $447.50.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. 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 payout ratio is currently 14.41%.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. Barclays lowered their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada lowered 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. Jefferies Financial Group boosted their target price on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. New Street Research set a $380.00 price target on GE Vernova in a research report on Wednesday, March 5th. Finally, Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $369.22.

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.