Acorns Advisers LLC Invests $346,000 in GE Vernova Inc. (NYSE:GEV)

Acorns Advisers LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,051 shares of the company's stock, valued at approximately $346,000.

A number of other hedge funds have also recently modified their holdings of the company. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter valued at $25,000. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after buying an additional 39 shares during the period. Fairway Wealth LLC increased its holdings in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new position in GE Vernova in the 4th quarter valued at about $30,000.

GE Vernova Trading Down 1.6 %

Shares of GEV stock traded down $5.36 during trading hours on Friday, hitting $322.81. The company's stock had a trading volume of 2,859,246 shares, compared to its average volume of 3,367,032. The business has a fifty day moving average of $321.67 and a 200-day moving average of $329.61. GE Vernova Inc. has a twelve month low of $132.11 and a twelve month high of $447.50. The stock has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect 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. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Susquehanna started coverage on shares of GE Vernova in a research note on Wednesday, April 2nd. They set a "positive" rating and a $370.00 price target for the company. Finally, Robert W. Baird decreased their price objective on GE Vernova from $448.00 to $387.00 and set an "outperform" rating for the company in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $357.13.

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.