St. Clair Advisors LLC Invests $229,000 in GE Vernova Inc. (NYSE:GEV)

St. Clair Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 696 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in GE Vernova during the fourth quarter worth approximately $1,109,720,000. Capital International Investors raised its holdings in shares of GE Vernova by 25.3% during 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 last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. FMR LLC raised its holdings in shares of GE Vernova by 3.4% during 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 last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock valued at $379,974,000 after acquiring an additional 690,513 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on GEV. Robert W. Baird increased their target price on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Susquehanna reissued a “positive” rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a report on Wednesday. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $374.62.

GE Vernova Stock Up 0.4%

GEV opened at $428.63 on Monday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The business has a fifty day simple moving average of $344.05 and a 200-day simple moving average of $345.94. The firm has a market cap of $116.99 billion and a P/E ratio of 77.09.

GE Vernova (NYSE:GEV) last released 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 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 period last year, the business posted ($0.47) earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

GE Vernova 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.