Laird Norton Wetherby Wealth Management LLC Sells 470 Shares of GE Vernova Inc. (NYSE:GEV)

Laird Norton Wetherby Wealth Management LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,443 shares of the company’s stock after selling 470 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in GE Vernova were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of GE Vernova in the 4th quarter worth approximately $1,109,720,000. Capital International Investors boosted its stake in GE Vernova by 25.3% during the 4th 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 last quarter. Massachusetts Financial Services Co. MA boosted its stake in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. FMR LLC boosted its stake in shares of 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 buying an additional 814,155 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after buying an additional 690,513 shares during the last quarter.

GE Vernova Trading Up 4.0%

Shares of GEV stock opened at $433.30 on Wednesday. The business’s fifty day simple moving average is $335.14 and its 200-day simple moving average is $342.83. The company has a market cap of $118.26 billion and a PE ratio of 77.93. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm earned ($0.47) EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared 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 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their target price on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. 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. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, BMO Capital Markets cut their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price 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.