Nuveen Asset Management LLC Buys 29,548 Shares of GE Vernova Inc. (NYSE:GEV)

Nuveen Asset Management LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 614,792 shares of the company’s stock after buying an additional 29,548 shares during the period. Nuveen Asset Management LLC’s holdings in GE Vernova were worth $202,224,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GEV. Norges Bank purchased a new stake in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Capital International Investors boosted its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. Massachusetts Financial Services Co. MA increased its stake in GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after buying an additional 1,238,690 shares in the last quarter. FMR LLC lifted 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of GE Vernova by 148.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock worth $379,974,000 after acquiring an additional 690,513 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Susquehanna reissued a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and set a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and set a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $373.22.

GE Vernova Trading Down 1.5%

Shares of NYSE:GEV opened at $426.53 on Friday. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The company has a market capitalization of $116.41 billion and a price-to-earnings ratio of 76.71. The firm’s 50-day moving average is $341.15 and its 200 day moving average is $344.40.

GE Vernova (NYSE:GEV) last announced 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 business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. 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.