Slate Path Capital LP Sells 214,000 Shares of GE Vernova Inc. (NYSE:GEV)

Slate Path Capital LP reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 38.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 340,268 shares of the company's stock after selling 214,000 shares during the period. GE Vernova accounts for about 2.0% of Slate Path Capital LP's investment portfolio, making the stock its 22nd largest position. Slate Path Capital LP owned about 0.12% of GE Vernova worth $111,924,000 at the end of the most recent reporting period.

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

GE Vernova Price Performance

Shares of GEV stock traded up $12.13 on Friday, hitting $372.62. The company's stock had a trading volume of 3,956,787 shares, compared to its average volume of 3,358,999. The stock has a market capitalization of $101.85 billion and a price-to-earnings ratio of 67.02. GE Vernova Inc. has a fifty-two week low of $149.42 and a fifty-two week high of $447.50. The firm's fifty day moving average price is $318.90 and its 200-day moving average price is $331.69.

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

GE Vernova Dividend Announcement

The firm 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 0.27%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Bank of America increased their price objective 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. William Blair restated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Robert W. Baird upped their target price on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price objective 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, April 10th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $369.22.

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.