Tidal Investments LLC Buys 51,023 Shares of GE Vernova Inc. (NYSE:GEV)

Tidal Investments LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 701.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,294 shares of the company’s stock after purchasing an additional 51,023 shares during the period. Tidal Investments LLC’s holdings in GE Vernova were worth $19,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC bought a new stake in shares of GE Vernova during the 4th quarter worth approximately $25,000. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Fairway Wealth LLC raised its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in GE Vernova in the 4th quarter valued at $27,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. Susquehanna restated a “positive” rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a research note on Wednesday. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Robert W. Baird increased their price target on GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.62.

GE Vernova Stock Performance

GEV opened at $428.63 on Monday. The firm has a market cap of $116.99 billion and a P/E ratio of 77.09. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50. The business’s fifty day moving average is $344.05 and its 200-day moving average is $345.94.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The company 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%. GE Vernova’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

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.