Shorepoint Capital Partners LLC Invests $1.36 Million in GE Vernova Inc. (NYSE:GEV)

Shorepoint Capital Partners LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,129 shares of the company's stock, valued at approximately $1,358,000.

Other institutional investors have also added to or reduced their stakes in the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter worth about $25,000. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC boosted its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the fourth quarter valued at approximately $30,000.

GE Vernova Stock Up 4.4 %

Shares of GEV stock traded up $16.93 during trading hours on Friday, hitting $399.22. 2,669,353 shares of the company's stock traded hands, compared to its average volume of 3,334,113. The stock has a market cap of $108.96 billion and a price-to-earnings ratio of 71.90. The stock's fifty day simple moving average is $321.22 and its two-hundred day simple moving average is $335.37. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) earnings per share. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.25%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GEV shares. Bank of America upped their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Citigroup decreased their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Robert W. Baird increased their price objective on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Guggenheim restated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Six equities research 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 company's stock. According to data from MarketBeat, GE Vernova presently has a consensus 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.