Concentric Capital Strategies LP Takes Position in GE Vernova Inc. (NYSE:GEV)

Concentric Capital Strategies LP purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,683 shares of the company's stock, valued at approximately $883,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $206,000. GPS Wealth Strategies Group LLC raised its stake in shares of GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after purchasing an additional 822 shares in the last quarter. Yarbrough Capital LLC lifted its holdings in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after buying an additional 1,160 shares during the last quarter. Legacy Bridge LLC grew its stake in shares of GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock valued at $3,612,000 after buying an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock worth $3,247,000 after buying an additional 1,408 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on GEV shares. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 target price on the stock. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective on GE Vernova from $436.00 to $425.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.22.

GE Vernova Price Performance

Shares of GEV traded up $4.03 during mid-day trading on Friday, reaching $398.03. The company had a trading volume of 2,383,020 shares, compared to its average volume of 3,314,351. The company has a market capitalization of $108.64 billion and a P/E ratio of 71.59. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The company's 50-day moving average is $330.33 and its 200-day moving average is $341.03.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business earned ($0.47) earnings per share. The business's revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

About GE Vernova

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.