Polymer Capital Management HK LTD lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 71.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,502 shares of the company's stock after selling 55,633 shares during the period. GE Vernova accounts for 1.3% of Polymer Capital Management HK LTD's holdings, making the stock its 21st biggest holding. Polymer Capital Management HK LTD's holdings in GE Vernova were worth $7,402,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC raised its stake 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 during the period. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC raised its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted 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 shares of GE Vernova during the fourth quarter valued at about $30,000.
Analyst Ratings Changes
A number of equities analysts have issued reports on GEV shares. Barclays cut their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their target price on shares of GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday. Bank of America boosted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $348.80.
Check Out Our Latest Stock Report on GE Vernova
GE Vernova Trading Down 2.9 %
GEV traded down $9.48 during trading on Thursday, reaching $317.33. The stock had a trading volume of 2,696,529 shares, compared to its average volume of 3,430,769. The company has a market capitalization of $86.74 billion and a price-to-earnings ratio of 56.56. The stock's 50 day moving average is $328.44 and its two-hundred day moving average is $326.80. GE Vernova Inc. has a one year low of $128.25 and a one year high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. GE Vernova's payout ratio is currently 17.99%.
About GE Vernova
(
Free Report)
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.
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