DRW Securities LLC Has $1.20 Million Holdings in GE Vernova Inc. (NYSE:GEV)

DRW Securities LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 131.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,659 shares of the company’s stock after acquiring an additional 2,079 shares during the period. DRW Securities LLC’s holdings in GE Vernova were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its stake 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Norges Bank acquired a new stake in GE Vernova during the 4th quarter valued at $1,109,720,000. Franklin Resources Inc. lifted its holdings in GE Vernova by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in GE Vernova by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company’s stock valued at $552,404,000 after purchasing an additional 49,821 shares during the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $326.74 on Thursday. The stock’s 50 day moving average is $328.44 and its 200 day moving average is $326.80. The firm has a market cap of $89.31 billion and a P/E ratio of 58.77. GE Vernova Inc. has a one year low of $128.25 and a one year high of $447.50.

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

GE Vernova Dividend Announcement

The firm 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 annualized dividend and a yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

Several brokerages have issued reports on GEV. The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Royal Bank of Canada cut their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their target price on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $349.20.

About GE Vernova

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.