NewEdge Advisors LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 61.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,803 shares of the company's stock after acquiring an additional 9,818 shares during the period. NewEdge Advisors LLC's holdings in GE Vernova were worth $8,487,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in GEV. Register Financial Advisors LLC bought a new stake in GE Vernova in the fourth quarter worth approximately $206,000. GPS Wealth Strategies Group LLC increased its stake in shares of GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after acquiring an additional 822 shares in the last quarter. Yarbrough Capital LLC lifted its position in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after acquiring an additional 1,160 shares during the period. Legacy Bridge LLC boosted its stake in GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after acquiring an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock worth $3,247,000 after purchasing an additional 1,408 shares during the period.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on GEV shares. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Barclays reduced their price objective 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. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, Guggenheim restated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a report on Thursday. Seven research 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.13.
Check Out Our Latest Report on GE Vernova
GE Vernova Trading Down 1.6 %
Shares of NYSE GEV opened at $322.81 on Friday. The firm has a market cap of $88.24 billion and a price-to-earnings ratio of 58.06. The stock has a fifty day simple moving average of $322.67 and a two-hundred day simple moving average of $329.15. GE Vernova Inc. has a 1-year low of $132.11 and a 1-year high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS 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. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's dividend payout ratio (DPR) is currently 17.99%.
GE Vernova Company Profile
(
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.
See Also
Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).
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