Freestone Grove Partners LP Invests $26.46 Million in GE Vernova Inc. (NYSE:GEV)

Freestone Grove Partners LP acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 80,445 shares of the company's stock, valued at approximately $26,461,000.

Other large investors have also recently bought and sold shares of the company. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Cedar Mountain Advisors LLC increased its holdings 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 purchasing an additional 39 shares during the period. Fairway Wealth LLC increased its holdings 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 purchasing an additional 55 shares during the period. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% during the fourth 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 last quarter. Finally, Navigoe LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at about $27,000.

GE Vernova Stock Performance

NYSE:GEV traded down $0.01 during trading hours on Tuesday, hitting $401.09. The stock had a trading volume of 2,215,842 shares, compared to its average volume of 3,327,044. The business's 50 day moving average is $324.11 and its 200-day moving average is $338.05. The company has a market cap of $109.47 billion and a price-to-earnings ratio of 72.14. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50.

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, 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 analyst estimates of $7.56 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The company's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

Several research firms have commented on GEV. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Guggenheim restated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Jefferies Financial Group raised their target price on GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada lowered their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Finally, Morgan Stanley restated an "overweight" rating and issued a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Six 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $369.22.

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.