GAMMA Investing LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 32,984.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,141,539 shares of the company's stock after acquiring an additional 2,135,066 shares during the period. GAMMA Investing LLC owned 0.78% of GE Vernova worth $653,769,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. GPS Wealth Strategies Group LLC grew its position in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after acquiring an additional 822 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock worth $3,247,000 after acquiring an additional 1,408 shares during the last quarter. Principal Securities Inc. grew its position in GE Vernova by 29.0% in the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after buying an additional 425 shares during the last quarter. Clarity Financial LLC grew its position in GE Vernova by 59.4% in the 4th quarter. Clarity Financial LLC now owns 43,088 shares of the company's stock valued at $14,173,000 after buying an additional 16,050 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in GE Vernova by 3.1% in the 4th quarter. New York State Teachers Retirement System now owns 242,128 shares of the company's stock valued at $79,643,000 after buying an additional 7,373 shares during the last quarter.
GE Vernova Stock Up 0.1%
Shares of GE Vernova stock traded up $0.39 on Friday, hitting $471.56. The company's stock had a trading volume of 5,090,753 shares, compared to its average volume of 3,348,350. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $489.13. The firm has a fifty day moving average price of $371.84 and a 200-day moving average price of $355.39. The company has a market capitalization of $128.71 billion and a P/E ratio of 84.81.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the firm earned ($0.47) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date 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 presently 14.41%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GEV. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird lifted their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. Royal Bank of Canada lowered their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Finally, TD Cowen lowered their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $385.78.
View Our Latest Report on GEV
About GE Vernova
(
Free Report)
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.
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