JAT Capital Mgmt LP Buys Shares of 10,000 GE Vernova Inc. (NYSE:GEV)

JAT Capital Mgmt LP bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $3,289,000. GE Vernova accounts for about 0.5% of JAT Capital Mgmt LP’s portfolio, making the stock its 26th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MRP Capital Investments LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Fairway Wealth LLC boosted its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Finally, Navigoe LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $27,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEV. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Guggenheim reissued a “buy” rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Finally, Susquehanna upped their price target on GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating in a report on Thursday, April 24th. Six 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $369.22.

GE Vernova Stock Up 0.2 %

Shares of NYSE GEV opened at $370.94 on Wednesday. The firm’s 50-day simple moving average is $319.02 and its 200 day simple moving average is $334.35. GE Vernova Inc. has a 12-month low of $149.42 and a 12-month high of $447.50. The company has a market cap of $101.24 billion and a price-to-earnings ratio of 66.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) earnings per share. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

About GE Vernova

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.