J. Safra Sarasin Holding AG Invests $5.70 Million in GE Vernova Inc. (NYSE:GEV)

J. Safra Sarasin Holding AG bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,340 shares of the company's stock, valued at approximately $5,704,000.

A number of other hedge funds have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC raised 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 last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $25,000. Fairway Wealth LLC lifted its holdings in shares of 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 purchasing an additional 55 shares during the period. Pineridge Advisors LLC grew 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 worth $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new stake in GE Vernova in the fourth quarter valued at $30,000.

GE Vernova Stock Up 3.4 %

NYSE:GEV traded up $12.13 during trading hours on Friday, hitting $372.62. 3,956,787 shares of the company traded hands, compared to its average volume of 3,359,003. The company has a market cap of $101.85 billion and a PE ratio of 67.02. The firm's 50-day simple moving average is $318.90 and its 200-day simple moving average is $332.43. GE Vernova Inc. has a one year low of $149.42 and a one year high of $447.50.

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, beating analysts' consensus estimates of $0.45 by $0.46. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the firm earned ($0.47) earnings per share. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova's payout ratio is presently 14.41%.

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. BMO Capital Markets cut their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. New Street Research set a $380.00 price objective on GE Vernova in a research note on Wednesday, March 5th. Jefferies Financial Group increased their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of GE Vernova from $436.00 to $425.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.