Potrero Capital Research LLC Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Potrero Capital Research LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 91.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,130 shares of the company’s stock after purchasing an additional 26,800 shares during the quarter. GE Vernova comprises about 6.2% of Potrero Capital Research LLC’s portfolio, making the stock its 3rd biggest position. Potrero Capital Research LLC’s holdings in GE Vernova were worth $18,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Armstrong Advisory Group Inc. grew its stake in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its stake in 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 acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its stake in 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 acquiring an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after acquiring an additional 31 shares during the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $432.95 on Thursday. The firm has a 50-day moving average of $338.02 and a 200-day moving average of $343.46. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50. The company has a market cap of $118.17 billion and a price-to-earnings ratio of 77.87.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. GE Vernova’s payout ratio is 14.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GEV. Truist Financial set a $440.00 price objective on shares of GE Vernova in a research note on Thursday, March 27th. Susquehanna reaffirmed a “positive” rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Citigroup cut their target price on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada cut their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $373.22.

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.