Bridgewater Associates LP Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Bridgewater Associates LP grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 588.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,220 shares of the company's stock after purchasing an additional 206,184 shares during the period. Bridgewater Associates LP owned about 0.09% of GE Vernova worth $79,344,000 as of its most recent SEC filing.

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

GE Vernova Price Performance

Shares of NYSE GEV traded down $5.36 on Friday, hitting $322.81. The company's stock had a trading volume of 2,859,246 shares, compared to its average volume of 3,362,406. The stock has a 50 day moving average of $321.67 and a 200-day moving average of $330.15. The company has a market capitalization of $88.24 billion and a price-to-earnings ratio of 58.06. GE Vernova Inc. has a 12-month low of $132.11 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is 17.99%.

Analyst Ratings Changes

A number of analysts recently weighed in on GEV shares. Citigroup cut their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada decreased their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Guggenheim reissued a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a report on Thursday. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $357.13.

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.