Castle Hook Partners LP Sells 298,524 Shares of GE Vernova Inc. (NYSE:GEV)

Castle Hook Partners LP reduced its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 28.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 752,282 shares of the company's stock after selling 298,524 shares during the period. GE Vernova accounts for about 3.1% of Castle Hook Partners LP's portfolio, making the stock its 7th largest holding. Castle Hook Partners LP owned about 0.27% of GE Vernova worth $247,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC grew its stake 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 during the period. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC increased its stake in GE Vernova by 220.0% in 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 in the last quarter. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% during 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 period. Finally, Navigoe LLC bought a new stake in GE Vernova during the 4th quarter valued at $27,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. Jefferies Financial Group raised their price objective 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. Guggenheim restated a "buy" rating and issued a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Finally, The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $369.22.

GE Vernova Stock Performance

GEV traded up $4.03 during trading on Friday, hitting $398.03. 2,383,020 shares of the stock were exchanged, compared to its average volume of 3,314,351. The firm has a 50 day simple moving average of $330.33 and a 200 day simple moving average of $341.03. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $447.50. The firm has a market cap of $108.64 billion and a price-to-earnings ratio of 71.59.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share 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 business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The company's revenue was up 10.6% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share 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. Stockholders 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 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.