GE Vernova Inc. (NYSE:GEV) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP grew its holdings in GE Vernova Inc. (NYSE:GEV) by 588.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 241,220 shares of the company’s stock after buying an additional 206,184 shares during the period. Bridgewater Associates LP’s holdings in GE Vernova were worth $79,344,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Ontario Teachers Pension Plan Board acquired a new stake in GE Vernova in the 4th quarter worth approximately $1,704,000. Guggenheim Capital LLC lifted its stake in shares of GE Vernova by 63.5% during the fourth quarter. Guggenheim Capital LLC now owns 6,077 shares of the company’s stock worth $1,999,000 after buying an additional 2,361 shares during the period. Chiron Investment Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at $2,004,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of GE Vernova in the 4th quarter valued at $1,831,000. Finally, Tribune Investment Group LP purchased a new position in GE Vernova in the 4th quarter worth $9,868,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GEV. Royal Bank of Canada cut their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Barclays reduced their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. BMO Capital Markets cut 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 note on Monday, March 3rd. Jefferies Financial Group upped their price target on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $345.84.

GE Vernova Stock Performance

Shares of GEV stock opened at $321.84 on Tuesday. GE Vernova Inc. has a fifty-two week low of $128.25 and a fifty-two week high of $447.50. The stock’s fifty day moving average is $325.81 and its two-hundred day moving average is $328.68. The firm has a market capitalization of $87.97 billion and a P/E ratio of 57.88.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.