Voleon Capital Management LP Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Voleon Capital Management LP bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The fund bought 27,883 shares of the company’s stock, valued at approximately $9,172,000. GE Vernova accounts for approximately 0.7% of Voleon Capital Management LP’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the business. PDT Partners LLC grew its position in GE Vernova by 28.0% in the fourth quarter. PDT Partners LLC now owns 16,000 shares of the company’s stock valued at $5,263,000 after purchasing an additional 3,500 shares in the last quarter. 11 Capital Partners LP lifted its stake in GE Vernova by 14.8% in the fourth quarter. 11 Capital Partners LP now owns 40,348 shares of the company’s stock valued at $13,272,000 after acquiring an additional 5,211 shares during the last quarter. AQR Capital Management LLC lifted its stake in GE Vernova by 85.7% in the fourth quarter. AQR Capital Management LLC now owns 352,871 shares of the company’s stock valued at $116,070,000 after acquiring an additional 162,872 shares during the last quarter. Perbak Capital Partners LLP acquired a new stake in GE Vernova in the fourth quarter valued at $294,000. Finally, Hhlr Advisors LTD. lifted its stake in GE Vernova by 1.0% in the fourth quarter. Hhlr Advisors LTD. now owns 7,826 shares of the company’s stock valued at $2,574,000 after acquiring an additional 80 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of GE Vernova from $436.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Robert W. Baird raised their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Barclays cut their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, BMO Capital Markets cut their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $369.22.

GE Vernova Price Performance

NYSE GEV opened at $370.94 on Wednesday. The business has a fifty day moving average price of $319.02 and a two-hundred day moving average price of $334.35. GE Vernova Inc. has a fifty-two week low of $149.42 and a fifty-two week high of $447.50. The stock has a market capitalization of $101.24 billion and a PE ratio of 66.72.

GE Vernova (NYSE:GEV) last announced 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the company earned ($0.47) EPS. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect 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 will be paid on Friday, May 16th. Stockholders 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 dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, April 17th. 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.