Alyeska Investment Group L.P. Cuts Stock Position in GE Vernova Inc. (NYSE:GEV)

Alyeska Investment Group L.P. decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 67.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,000 shares of the company's stock after selling 214,445 shares during the period. Alyeska Investment Group L.P.'s holdings in GE Vernova were worth $34,538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its holdings 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 acquiring an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC purchased a new position in GE Vernova during the 4th quarter valued at about $27,000.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. Jefferies Financial Group lifted their price target 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. BMO Capital Markets cut their price objective on shares of 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 target price on shares of GE Vernova in a report on Wednesday, March 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Trading Up 1.4 %

GEV stock traded up $5.71 during midday trading on Wednesday, reaching $406.94. 2,488,560 shares of the company's stock traded hands, compared to its average volume of 3,322,817. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50. The stock has a market cap of $111.07 billion and a P/E ratio of 73.19. The stock's 50-day moving average is $325.61 and its 200 day moving average is $338.49.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm earned ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

GE Vernova 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.