Quadcap Wealth Management LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Quadcap Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,072 shares of the company’s stock, valued at approximately $353,000.

Several other hedge funds have also added to or reduced their stakes in GEV. Norges Bank bought a new position in shares of GE Vernova during the fourth quarter valued at about $1,109,720,000. Capital International Investors raised its stake in shares of GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. FMR LLC raised its stake in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock valued at $379,974,000 after acquiring an additional 690,513 shares during the last quarter.

GE Vernova Stock Up 0.4%

NYSE:GEV opened at $428.63 on Friday. The company’s 50 day moving average price is $344.05 and its 200-day moving average price is $345.30. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The stock has a market cap of $116.99 billion and a price-to-earnings ratio of 77.09.

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

GE Vernova Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on GEV shares. Susquehanna reaffirmed a “positive” rating and set a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday. Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Finally, Jefferies Financial Group increased their price target on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.62.

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.