LMR Partners LLP Has $11.26 Million Holdings in GE Vernova Inc. (NYSE:GEV)

LMR Partners LLP trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 62.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,226 shares of the company’s stock after selling 57,002 shares during the period. LMR Partners LLP’s holdings in GE Vernova were worth $11,258,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. lifted its stake in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the period. Hengehold Capital Management LLC grew its holdings in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC raised its stake in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its position in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the period.

GE Vernova Price Performance

Shares of NYSE GEV opened at $398.03 on Monday. The company’s 50 day simple moving average is $330.33 and its 200 day simple moving average is $341.34. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50. The firm has a market capitalization of $108.64 billion and a P/E ratio of 71.59.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird raised their target price on GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Barclays lowered their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Guggenheim reissued a “buy” rating and set a $380.00 price objective on shares of GE Vernova in a report on Thursday, April 24th. Six investment 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $369.22.

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.