National Bank of Canada FI Cuts Stock Holdings in GE Vernova Inc. $GEV

National Bank of Canada FI lessened its position in GE Vernova Inc. (NYSE:GEV) by 51.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,495 shares of the company’s stock after selling 226,009 shares during the quarter. National Bank of Canada FI owned about 0.08% of GE Vernova worth $112,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GEV. Brighton Jones LLC raised its stake in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of GE Vernova by 11.5% during the first quarter. Kovitz Investment Group Partners LLC now owns 7,170 shares of the company’s stock worth $2,189,000 after buying an additional 737 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of GE Vernova by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 635,640 shares of the company’s stock valued at $194,038,000 after buying an additional 13,872 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of GE Vernova by 29.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,629 shares of the company’s stock worth $803,000 after buying an additional 598 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC boosted its position in GE Vernova by 28.6% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 3,415 shares of the company’s stock worth $1,043,000 after acquiring an additional 759 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEV. TD Cowen cut their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Royal Bank Of Canada raised GE Vernova from a “sector perform” rating to an “outperform” rating and set a $761.00 price target for the company in a report on Wednesday, December 10th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $654.54.

GE Vernova Stock Performance

GEV opened at $672.32 on Monday. The stock has a market capitalization of $182.41 billion, a PE ratio of 109.50, a P/E/G ratio of 5.12 and a beta of 1.71. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The business’s 50 day moving average price is $597.06 and its 200 day moving average price is $583.51.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the firm earned ($0.35) EPS. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio is currently 16.29%.

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.