Spear Holdings RSC Ltd Takes $27.84 Million Position in GE Vernova Inc. (NYSE:GEV)

Spear Holdings RSC Ltd purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 91,200 shares of the company's stock, valued at approximately $27,842,000. GE Vernova accounts for 2.1% of Spear Holdings RSC Ltd's investment portfolio, making the stock its 12th largest holding.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after buying an additional 98,034 shares during the last quarter. Grandview Asset Management LLC raised its position in GE Vernova by 48.8% during the 1st quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after buying an additional 705 shares during the last quarter. GAMMA Investing LLC raised its position in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after buying an additional 542 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in GE Vernova during the 1st quarter worth $328,000. Finally, State of Alaska Department of Revenue raised its position in GE Vernova by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company's stock worth $9,872,000 after buying an additional 910 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV traded up $12.28 during mid-day trading on Friday, hitting $517.35. 1,809,150 shares of the company's stock traded hands, compared to its average volume of 3,313,458. The firm's 50 day simple moving average is $461.19 and its 200 day simple moving average is $383.19. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $532.59. The company has a market cap of $141.20 billion, a PE ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio is presently 14.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GEV shares. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Robert W. Baird upped their price objective on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Susquehanna restated a "positive" rating and set a $499.00 price objective (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada cut their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $440.04.

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.