Sharpepoint LLC Acquires Shares of 8,354 GE Vernova Inc. (NYSE:GEV)

Sharpepoint LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,354 shares of the company's stock, valued at approximately $2,748,000. GE Vernova makes up about 2.5% of Sharpepoint LLC's portfolio, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Cedar Mountain Advisors LLC increased its position 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 purchasing an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC grew 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 acquiring an additional 55 shares during the period. Pineridge Advisors LLC raised its position in 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 acquiring an additional 69 shares in 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 7.3 %

Shares of NYSE GEV traded up $24.48 during midday trading on Thursday, hitting $360.57. The stock had a trading volume of 4,975,080 shares, compared to its average volume of 3,372,671. The company has a fifty day moving average price of $319.03 and a 200 day moving average price of $331.01. The company has a market capitalization of $98.56 billion and a price-to-earnings ratio of 64.85. GE Vernova Inc. has a 1-year low of $138.67 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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 firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared 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 of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.28%. GE Vernova's dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target 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. TD Cowen decreased their price target on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research note on Thursday. Susquehanna raised their price objective on GE Vernova from $370.00 to $399.00 and gave the company a "positive" rating in a research note on Thursday. Finally, Citigroup decreased their target price on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Six equities research 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $369.22.

GE Vernova Company Profile

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.