Moore Capital Management LP Increases Stake in GE Vernova Inc. (NYSE:GEV)

Moore Capital Management LP boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1,957.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,753 shares of the company’s stock after acquiring an additional 195,753 shares during the period. GE Vernova accounts for approximately 0.8% of Moore Capital Management LP’s investment portfolio, making the stock its 12th biggest position. Moore Capital Management LP owned about 0.07% of GE Vernova worth $67,678,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC purchased a new position in GE Vernova in the fourth quarter worth approximately $25,000. Fairway Wealth LLC raised its position in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC lifted its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Navigoe LLC purchased a new position in shares of GE Vernova during the 4th quarter worth $27,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GEV shares. Barclays reduced their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Susquehanna raised their price target on GE Vernova from $370.00 to $399.00 and gave the stock a “positive” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of 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 set a “buy” rating and a $425.00 price objective for the company. Finally, Bank of America raised their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.22.

GE Vernova Stock Performance

Shares of GEV stock opened at $398.03 on Monday. The firm’s 50-day simple moving average is $330.33 and its two-hundred day simple moving average is $341.34. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The firm has a market cap of $108.64 billion and a price-to-earnings ratio of 71.59.

GE Vernova (NYSE:GEV) last issued 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 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 firm earned ($0.47) EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. GE Vernova’s dividend payout ratio is currently 14.41%.

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.