Concentric Capital Strategies LP Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Concentric Capital Strategies LP purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,683 shares of the company’s stock, valued at approximately $883,000.

A number of other large investors have also recently modified their holdings of GEV. FMR LLC grew its stake in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after buying an additional 814,155 shares in the last quarter. Capital International Investors lifted its holdings in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC grew its position in GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after acquiring an additional 195,828 shares in the last quarter. Norges Bank bought a new position in GE Vernova in the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp raised its position in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after purchasing an additional 343,837 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $406.94 on Thursday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50. The company has a 50-day simple moving average of $327.04 and a two-hundred day simple moving average of $338.96. The firm has a market capitalization of $111.07 billion and a PE ratio of 73.19.

GE Vernova (NYSE:GEV) last released its quarterly 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 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%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) earnings per share. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Susquehanna increased their price objective on GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating 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. Citigroup cut their price objective on shares of GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Six research 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 stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $369.22.

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.