Bridgewater Associates LP Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Bridgewater Associates LP boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 588.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 241,220 shares of the company’s stock after buying an additional 206,184 shares during the period. Bridgewater Associates LP owned 0.09% of GE Vernova worth $79,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in GE Vernova in the 4th quarter worth $1,109,720,000. Massachusetts Financial Services Co. MA lifted its position in shares of GE Vernova by 1,638.5% in 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 in the last quarter. FMR LLC boosted its stake in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after buying an additional 814,155 shares during the last quarter. Raymond James Financial Inc. purchased a new position in GE Vernova during the 4th quarter valued at approximately $219,187,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in GE Vernova by 555.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock worth $187,404,000 after acquiring an additional 482,787 shares during the last quarter.

GE Vernova Stock Up 0.1 %

Shares of NYSE:GEV opened at $321.84 on Tuesday. The firm has a 50 day moving average of $325.81 and a 200 day moving average of $328.68. The company has a market capitalization of $87.97 billion and a price-to-earnings ratio of 57.88. GE Vernova Inc. has a 52 week low of $128.25 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a report on Wednesday, March 5th. Citigroup decreased their target price 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. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Robert W. Baird started coverage on GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on GE Vernova from $436.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $345.84.

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.