Guggenheim Capital LLC Increases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Guggenheim Capital LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 63.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,077 shares of the company's stock after acquiring an additional 2,361 shares during the quarter. Guggenheim Capital LLC's holdings in GE Vernova were worth $1,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $213,000. Virtu Financial LLC purchased a new position in GE Vernova in the third quarter valued at approximately $1,481,000. Westside Investment Management Inc. raised its holdings in GE Vernova by 24.0% during the third quarter. Westside Investment Management Inc. now owns 362 shares of the company's stock worth $92,000 after purchasing an additional 70 shares in the last quarter. Fulcrum Equity Management acquired a new stake in GE Vernova during the third quarter worth approximately $218,000. Finally, World Investment Advisors LLC grew its position in shares of GE Vernova by 41.4% in the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company's stock valued at $733,000 after buying an additional 842 shares during the last quarter.

GE Vernova Stock Up 3.0 %

Shares of GE Vernova stock traded up $9.92 during trading on Wednesday, hitting $335.99. 5,430,895 shares of the company were exchanged, compared to its average volume of 3,371,472. GE Vernova Inc. has a fifty-two week low of $137.87 and a fifty-two week high of $447.50. The firm has a 50 day moving average price of $319.66 and a 200 day moving average price of $330.98. The stock has a market capitalization of $91.84 billion and a price-to-earnings ratio of 60.43.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.46. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. During the same period in the previous year, the firm posted ($0.47) earnings per share. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GEV. Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price objective on the stock. Baird R W raised GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating on the stock. Finally, Barclays dropped their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $365.54.

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.