Graham Capital Management L.P. Acquires 28,720 Shares of GE Vernova Inc. (NYSE:GEV)

Graham Capital Management L.P. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 2,393.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,920 shares of the company’s stock after acquiring an additional 28,720 shares during the period. Graham Capital Management L.P.’s holdings in GE Vernova were worth $9,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of GE Vernova in the 4th quarter valued at $1,109,720,000. Capital International Investors grew its stake in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after buying an additional 1,238,690 shares during the last quarter. FMR LLC raised its stake in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $219,187,000.

GE Vernova Stock Up 1.0 %

GEV opened at $398.03 on Friday. The stock has a market cap of $108.64 billion and a P/E ratio of 71.59. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $447.50. The company has a fifty day simple moving average of $330.33 and a 200 day simple moving average of $340.61.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 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 company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm posted ($0.47) earnings per share. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 is Thursday, April 17th. GE Vernova’s payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. Susquehanna raised their price target on GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating in a report on Thursday, April 24th. Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. Guggenheim reiterated a “buy” rating and set a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Citigroup lowered their price objective on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average 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.