Lazard Asset Management LLC Sells 12,393 Shares of GE Vernova Inc. (NYSE:GEV)

Lazard Asset Management LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 49.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,874 shares of the company’s stock after selling 12,393 shares during the quarter. Lazard Asset Management LLC’s holdings in GE Vernova were worth $4,234,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FMR LLC boosted its position in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the period. Capital International Investors boosted its position in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC boosted its position in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the period. Norges Bank bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp boosted its position in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after acquiring an additional 343,837 shares during the period.

Analyst Ratings Changes

GEV has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on shares of GE Vernova from $436.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.22.

GE Vernova Stock Down 1.5%

Shares of NYSE GEV opened at $426.53 on Friday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The firm’s fifty day moving average is $341.15 and its 200 day moving average is $344.40. The company has a market cap of $116.41 billion and a price-to-earnings ratio of 76.71.

GE Vernova (NYSE:GEV) last issued its 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 company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research 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. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

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.