Polar Asset Management Partners Inc. raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,624.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,000 shares of the company's stock after purchasing an additional 141,300 shares during the period. Polar Asset Management Partners Inc. owned 0.05% of GE Vernova worth $49,340,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter worth about $25,000. Cedar Mountain Advisors LLC boosted its stake in 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 acquiring an additional 39 shares during the last quarter. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in 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 purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in GE Vernova in the fourth quarter valued at approximately $27,000.
GE Vernova Stock Performance
NYSE GEV opened at $432.95 on Thursday. The firm's fifty day moving average price is $338.02 and its two-hundred day moving average price is $343.46. The stock has a market cap of $118.17 billion and a PE ratio of 77.87. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $7.56 billion. During the same quarter in the prior 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, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is 14.41%.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 target price for the company. Barclays lowered their price target on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $373.22.
Read Our Latest Research Report on GEV
GE Vernova Company Profile
(
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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