Castleark Management LLC Sells 4,730 Shares of GE Vernova Inc. (NYSE:GEV)

by · The Cerbat Gem

Castleark Management LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 80.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,130 shares of the company’s stock after selling 4,730 shares during the quarter. Castleark Management LLC’s holdings in GE Vernova were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GEV. FMR LLC increased its holdings 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 worth $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Capital International Investors lifted its holdings in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC boosted its position in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the period. Norges Bank acquired a new position in shares of GE Vernova in the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp increased its holdings in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after purchasing an additional 343,837 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $453.88 on Thursday. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $463.00. The stock has a market capitalization of $123.88 billion and a price-to-earnings ratio of 81.63. The company’s 50 day simple moving average is $352.79 and its 200 day simple moving average is $348.40.

GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company posted ($0.47) EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on GEV. Johnson Rice began coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group boosted their price objective on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their target price on GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, Guggenheim restated a “buy” rating and issued a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $374.62.

Get Our Latest Stock Analysis on GE Vernova

GE Vernova 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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