Silverberg Bernstein Capital Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 991 shares of the company's stock, valued at approximately $303,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in GE Vernova in the 4th quarter worth approximately $1,109,720,000. Capital International Investors grew its stake in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC increased its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA raised its stake in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock valued at $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. Finally, FMR LLC raised its stake in GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on GEV. BMO Capital Markets boosted their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price target for the company. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Susquehanna reaffirmed a "positive" rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, TD Cowen lowered their price target on 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 issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $385.78.
Read Our Latest Stock Report on GE Vernova
GE Vernova Stock Performance
GEV traded down $4.61 during trading on Wednesday, reaching $488.36. 2,192,200 shares of the company's stock were exchanged, compared to its average volume of 3,340,592. The company's fifty day moving average price is $379.01 and its 200-day moving average price is $357.63. The firm has a market capitalization of $133.29 billion, a PE ratio of 87.83, a P/E/G ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72.
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, 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 business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
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 was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. GE Vernova's dividend payout ratio is 14.41%.
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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