SIR Capital Management L.P. Increases Stake in GE Vernova Inc. (NYSE:GEV)

SIR Capital Management L.P. raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 145.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,400 shares of the company's stock after purchasing an additional 18,600 shares during the period. SIR Capital Management L.P.'s holdings in GE Vernova were worth $10,328,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its position in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC raised its position in GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc raised its position in GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC raised its position in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after purchasing an additional 31 shares during the period. Finally, WASHINGTON TRUST Co raised its position in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after purchasing an additional 31 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective on the stock. Citigroup decreased their price objective on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Friday. Finally, BMO Capital Markets decreased their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Six investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $374.62.

GE Vernova Stock Up 4.3%

Shares of NYSE GEV traded up $18.27 during midday trading on Monday, hitting $446.33. The stock had a trading volume of 3,123,788 shares, compared to its average volume of 3,319,656. The business's 50 day moving average is $344.05 and its 200-day moving average is $345.94. The company has a market cap of $121.82 billion and a P/E ratio of 80.28. 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, beating analysts' consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. GE Vernova's dividend payout ratio (DPR) is 14.41%.

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.