Castleark Management LLC Purchases Shares of 4,880 GE Vernova Inc. $GEV

Castleark Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,880 shares of the company’s stock, valued at approximately $2,582,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sachetta LLC raised its position in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the last quarter. Good Life Advisors LLC increased its stake in shares of GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after buying an additional 16 shares during the period. Bell Investment Advisors Inc raised its holdings in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank raised its holdings in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares in the last quarter. Finally, Graney & King LLC lifted its stake in GE Vernova by 2.4% in the second quarter. Graney & King LLC now owns 722 shares of the company’s stock worth $382,000 after acquiring an additional 17 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. HSBC boosted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. TD Cowen reduced their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a research report on Wednesday. Finally, Mizuho decreased their target price on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $654.54.

GE Vernova Stock Performance

Shares of GEV opened at $672.32 on Monday. The firm’s 50-day simple moving average is $597.06 and its two-hundred day simple moving average is $583.51. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The stock has a market cap of $182.41 billion, a PE ratio of 109.50, a price-to-earnings-growth ratio of 5.12 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company earned ($0.35) EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

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.