Shorepoint Capital Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,129 shares of the company's stock, valued at approximately $1,358,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC boosted its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new stake in GE Vernova during the 4th quarter valued at $30,000.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Jefferies Financial Group lifted their price objective on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Susquehanna boosted their price objective on shares of GE Vernova from $370.00 to $399.00 and gave the company a "positive" rating in a research report on Thursday. Robert W. Baird upped their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday. The Goldman Sachs Group lifted 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. Finally, Barclays reduced their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $369.22.
Check Out Our Latest Stock Analysis on GE Vernova
GE Vernova Price Performance
GE Vernova stock opened at $372.62 on Friday. GE Vernova Inc. has a one year low of $149.42 and a one year high of $447.50. The stock's fifty day moving average price is $318.90 and its two-hundred day moving average price is $332.89. The firm has a market cap of $101.85 billion and a PE ratio of 67.02.
GE Vernova (NYSE:GEV - Get Free Report) last issued its 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 analyst estimates of $7.56 billion. During the same quarter last year, the business posted ($0.47) earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The business also recently disclosed 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 is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova's payout ratio is 14.41%.
GE Vernova 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.
Further Reading
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