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

Castleark Management LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 80.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Hengehold Capital Management LLC increased its holdings in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares in the last quarter. Mutual Advisors LLC boosted its position in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares during the last quarter. WASHINGTON TRUST Co increased its stake in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 shares during the period. Kovack Advisors Inc. increased its stake in shares of GE Vernova by 1.0% in the 4th quarter. Kovack Advisors Inc. now owns 3,167 shares of the company’s stock valued at $1,042,000 after buying an additional 31 shares during the period. Finally, NewSquare Capital LLC lifted its stake in shares of GE Vernova by 32.4% during the fourth quarter. NewSquare Capital LLC now owns 139 shares of the company’s stock valued at $46,000 after acquiring an additional 34 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Jefferies Financial Group raised their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, BMO Capital Markets cut their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $374.62.

GE Vernova Price Performance

Shares of NYSE GEV opened at $453.88 on Thursday. The business has a 50-day moving average of $352.79 and a 200-day moving average of $348.40. The stock has a market capitalization of $123.88 billion and a price-to-earnings ratio of 81.63. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $463.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) earnings per share. 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 announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. GE Vernova’s payout ratio is 14.41%.

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.