Adage Capital Partners GP L.L.C. Acquires 107,301 Shares of GE Vernova Inc. (NYSE:GEV)

Adage Capital Partners GP L.L.C. grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 281.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 145,409 shares of the company's stock after purchasing an additional 107,301 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.05% of GE Vernova worth $47,829,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Beck Capital Management LLC grew its holdings in GE Vernova by 94.0% during the fourth quarter. Beck Capital Management LLC now owns 18,312 shares of the company's stock worth $6,023,000 after acquiring an additional 8,872 shares during the period. Symmetry Investments LP raised its holdings in shares of GE Vernova by 62.4% in the 4th quarter. Symmetry Investments LP now owns 48,719 shares of the company's stock worth $16,025,000 after purchasing an additional 18,712 shares in the last quarter. Brasada Capital Management LP boosted its holdings in GE Vernova by 1,100.3% during the fourth quarter. Brasada Capital Management LP now owns 12,003 shares of the company's stock worth $4,299,000 after buying an additional 11,003 shares in the last quarter. MGO One Seven LLC grew its position in GE Vernova by 13.8% in the fourth quarter. MGO One Seven LLC now owns 3,768 shares of the company's stock worth $1,240,000 after buying an additional 456 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of GE Vernova in the fourth quarter valued at $6,040,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price for the company. Citigroup cut their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Six equities research 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $369.22.

GE Vernova Trading Down 0.7 %

GEV traded down $2.63 during midday trading on Monday, reaching $369.79. The company's stock had a trading volume of 3,001,356 shares, compared to its average volume of 3,354,082. GE Vernova Inc. has a twelve month low of $149.42 and a twelve month high of $447.50. The company has a fifty day simple moving average of $318.90 and a 200 day simple moving average of $333.37. The stock has a market cap of $101.08 billion and a P/E ratio of 66.51.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $8.03 billion during 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 business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.47) earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova's payout ratio is 14.41%.

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.