Polar Capital Holdings Plc Has $187.40 Million Position in GE Vernova Inc. (NYSE:GEV)

Polar Capital Holdings Plc raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,138.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 569,730 shares of the company's stock after acquiring an additional 523,730 shares during the quarter. GE Vernova comprises 1.0% of Polar Capital Holdings Plc's investment portfolio, making the stock its 19th biggest holding. Polar Capital Holdings Plc owned about 0.21% of GE Vernova worth $187,401,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GEV. Norges Bank purchased a new position in GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Capital International Investors increased its stake in GE Vernova by 25.3% in the 4th 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. Massachusetts Financial Services Co. MA raised its stake in GE Vernova by 1,638.5% in the fourth 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 in the last quarter. FMR LLC raised its position in shares of 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 buying an additional 814,155 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock valued at $379,974,000 after purchasing an additional 690,513 shares in the last quarter.

GE Vernova Stock Down 0.1%

Shares of GEV stock opened at $432.95 on Thursday. The firm has a market capitalization of $118.17 billion and a PE ratio of 77.87. The company has a 50 day moving average price of $338.02 and a 200-day moving average price of $343.46. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, April 17th. GE Vernova's dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. TD Cowen dropped their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays decreased their price target on 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, Citigroup cut their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. 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. According to MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $373.22.

GE Vernova Company 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.

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