Sierra Summit Advisors LLC Has $8.81 Million Stake in GE Vernova Inc. (NYSE:GEV)

Sierra Summit Advisors LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 27.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,772 shares of the company's stock after selling 10,212 shares during the period. GE Vernova comprises approximately 1.8% of Sierra Summit Advisors LLC's investment portfolio, making the stock its 23rd biggest holding. Sierra Summit Advisors LLC's holdings in GE Vernova were worth $8,806,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC acquired a new stake in GE Vernova during the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC lifted its stake in shares of 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 buying an additional 39 shares during the last quarter. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova in the 4th quarter valued at about $30,000.

GE Vernova Price Performance

Shares of NYSE GEV traded up $11.04 during mid-day trading on Friday, hitting $320.99. 2,799,595 shares of the stock traded hands, compared to its average volume of 3,407,637. The company has a market cap of $87.74 billion and a PE ratio of 57.73. GE Vernova Inc. has a twelve month low of $128.25 and a twelve month high of $447.50. The firm has a 50 day simple moving average of $326.73 and a two-hundred day simple moving average of $327.64.

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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 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 business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Robert W. Baird started coverage on GE Vernova in a research report on Thursday, February 13th. They issued an "outperform" rating and a $448.00 target price on the stock. Susquehanna began coverage on GE Vernova in a report on Wednesday, April 2nd. They issued a "positive" rating and a $370.00 price objective on the stock. Baird R W raised GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group lifted 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. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $348.80.

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.