BTG Pactual Asset Management US LLC Grows Stake in GE Vernova Inc. (NYSE:GEV)

BTG Pactual Asset Management US LLC grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,368 shares of the company's stock after purchasing an additional 1,099 shares during the quarter. BTG Pactual Asset Management US LLC's holdings in GE Vernova were worth $2,424,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of GE Vernova in the 4th quarter worth about $1,109,720,000. Massachusetts Financial Services Co. MA increased its holdings in GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares in the last quarter. FMR LLC boosted its holdings in shares of GE Vernova by 3.4% during 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. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $219,187,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of GE Vernova by 555.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company's stock worth $187,404,000 after buying an additional 482,787 shares during the period.

GE Vernova Stock Performance

GEV traded down $5.36 during trading on Friday, reaching $322.81. 2,859,246 shares of the company traded hands, compared to its average volume of 3,373,626. GE Vernova Inc. has a 12-month low of $132.11 and a 12-month high of $447.50. The firm has a fifty day simple moving average of $322.67 and a 200 day simple moving average of $329.15. The company has a market cap of $88.24 billion and a P/E ratio of 58.06.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is 17.99%.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. 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 research note on Monday. Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets lowered their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, Guggenheim reiterated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday. Seven 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $357.13.

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.