Raiffeisen Bank International AG Takes $614,000 Position in GE Vernova Inc. (NYSE:GEV)

Raiffeisen Bank International AG bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,858 shares of the company's stock, valued at approximately $614,000.

Several other hedge funds also recently made changes to their positions in GEV. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter worth $25,000. Cedar Mountain Advisors LLC raised its holdings in shares of 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. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its holdings in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $27,000.

GE Vernova Trading Up 0.8%

Shares of GE Vernova stock traded up $3.82 on Friday, reaching $462.64. 1,533,515 shares of the company were exchanged, compared to its average volume of 3,327,561. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $475.40. The firm has a market capitalization of $126.27 billion and a price-to-earnings ratio of 83.39. The stock has a fifty day moving average price of $355.31 and a 200-day moving average price of $349.52.

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 (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the company earned ($0.47) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared 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 of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note 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 for the company. Susquehanna reiterated a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Morgan Stanley restated an "overweight" rating and set a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Finally, Jefferies Financial Group upped their price objective on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $374.62.

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.