American Century Companies Inc. Decreases Position in GE Vernova Inc. $GEV

American Century Companies Inc. reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,526 shares of the company’s stock after selling 75,851 shares during the period. American Century Companies Inc. owned 0.22% of GE Vernova worth $359,425,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its position in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in GE Vernova during the 2nd quarter worth $31,000. Bay Harbor Wealth Management LLC boosted its stake in GE Vernova by 537.5% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Monetary Management Group Inc. purchased a new stake in shares of GE Vernova during the second quarter worth $32,000. Finally, Elevation Wealth Partners LLC raised its position in shares of GE Vernova by 47.2% in the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on GEV. Evercore boosted their price target on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Royal Bank Of Canada upped their price target on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Barclays reiterated an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a research report on Monday, February 2nd. Finally, Robert W. Baird set a $923.00 price objective on GE Vernova and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $788.24.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $872.64 on Friday. The stock has a market capitalization of $235.20 billion, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.67. The business has a 50-day moving average of $726.02 and a 200 day moving average of $648.74. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $894.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.