GE Vernova Inc. (NYSE:GEV) Shares Acquired by Granite Investment Partners LLC

Granite Investment Partners LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,768 shares of the company's stock after purchasing an additional 12,740 shares during the period. GE Vernova makes up about 0.9% of Granite Investment Partners LLC's portfolio, making the stock its 26th biggest position. Granite Investment Partners LLC's holdings in GE Vernova were worth $21,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GEV. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $206,000. GPS Wealth Strategies Group LLC grew its stake in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after purchasing an additional 822 shares during the last quarter. Yarbrough Capital LLC increased its holdings in GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock worth $949,000 after buying an additional 1,160 shares during the period. Legacy Bridge LLC lifted its position in GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock valued at $3,612,000 after purchasing an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co raised its stake in shares of GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after buying an additional 1,408 shares during the last quarter.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GEV shares. Jefferies Financial Group raised their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target for the company in a report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $343.66.

GE Vernova Stock Up 2.0 %

Shares of GEV stock traded up $6.42 during trading hours on Tuesday, hitting $328.72. 1,631,055 shares of the company were exchanged, compared to its average volume of 3,394,142. GE Vernova Inc. has a 1 year low of $128.25 and a 1 year high of $447.50. The firm has a market cap of $89.85 billion and a PE ratio of 59.12. The firm has a fifty day moving average of $324.89 and a 200 day moving average of $328.68.

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 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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 given a $0.25 dividend. 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 payout ratio is currently 17.99%.

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.