Bridgewater Advisors Inc. Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Bridgewater Advisors Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,046 shares of the company's stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter worth about $25,000. Navigoe LLC purchased a new position in shares of GE Vernova in the 4th quarter worth about $27,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova in the 1st quarter worth about $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova in the 4th quarter worth about $28,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova in the 4th quarter worth about $30,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Morgan Stanley increased their target price on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a report on Tuesday, June 24th. UBS Group assumed coverage on GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 target price for the company. JPMorgan Chase & Co. increased their target price on GE Vernova from $460.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Citigroup restated a "neutral" rating and set a $544.00 target price (up from $354.00) on shares of GE Vernova in a report on Monday. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $468.88.

GE Vernova Price Performance

GEV stock traded up $4.85 on Friday, reaching $575.02. 2,043,852 shares of the company traded hands, compared to its average volume of 3,682,386. GE Vernova Inc. has a one year low of $150.01 and a one year high of $581.27. The company has a market cap of $156.94 billion, a P/E ratio of 82.86, a price-to-earnings-growth ratio of 4.18 and a beta of 1.86. The firm has a fifty day simple moving average of $489.76 and a 200-day simple moving average of $395.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the company earned ($0.47) EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Monday, July 21st. 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.