Shorepoint Capital Partners LLC Invests $1.36 Million in GE Vernova Inc. (NYSE:GEV)

Shorepoint Capital Partners LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,129 shares of the company’s stock, valued at approximately $1,358,000.

Other institutional investors also recently modified their holdings of the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC increased its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $30,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. TD Cowen decreased their price objective on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday. Guggenheim reissued a “buy” rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday. Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Finally, BMO Capital Markets dropped their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.22.

GE Vernova Trading Up 3.4 %

Shares of GEV stock opened at $372.62 on Friday. GE Vernova Inc. has a 12-month low of $149.42 and a 12-month high of $447.50. The business’s fifty day simple moving average is $318.90 and its 200-day simple moving average is $332.89. The company has a market cap of $101.85 billion and a PE ratio of 67.02.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.46. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned ($0.47) EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

GE Vernova Company 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.