Castleark Management LLC Sells 4,730 Shares of GE Vernova Inc. (NYSE:GEV)

Castleark Management LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 80.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,130 shares of the company's stock after selling 4,730 shares during the period. Castleark Management LLC's holdings in GE Vernova were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the 4th quarter worth $25,000. Cedar Mountain Advisors LLC boosted 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 acquiring an additional 39 shares during the last quarter. Fairway Wealth LLC boosted its stake 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 acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% during 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 bought a new stake in shares of GE Vernova during the 4th quarter valued at $27,000.

GE Vernova Stock Performance

GE Vernova stock traded up $6.54 during trading hours on Friday, hitting $465.36. The company had a trading volume of 3,569,081 shares, compared to its average volume of 3,332,350. The firm has a market cap of $127.01 billion and a P/E ratio of 83.70. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $469.81. The company has a 50-day moving average price of $358.25 and a two-hundred day moving average price of $350.65.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.47) EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. GE Vernova's dividend payout ratio is currently 14.41%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEV. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. 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 report on Thursday, March 27th. Royal Bank of Canada dropped their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective for the company. Finally, Barclays dropped their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $374.62.

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.