Adage Capital Partners GP L.L.C. Buys 23,326 Shares of GE Vernova Inc. $GEV

Adage Capital Partners GP L.L.C. increased its stake in GE Vernova Inc. (NYSE:GEV) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,999 shares of the company’s stock after buying an additional 23,326 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in GE Vernova were worth $124,879,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in GE Vernova in the 1st quarter valued at about $1,632,000. Kovitz Investment Group Partners LLC grew its holdings in GE Vernova by 11.5% during the first quarter. Kovitz Investment Group Partners LLC now owns 7,170 shares of the company’s stock worth $2,189,000 after purchasing an additional 737 shares during the period. Trivium Point Advisory LLC increased its position in GE Vernova by 330.1% during the first quarter. Trivium Point Advisory LLC now owns 2,718 shares of the company’s stock worth $830,000 after buying an additional 2,086 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in GE Vernova by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 635,640 shares of the company’s stock valued at $194,038,000 after buying an additional 13,872 shares during the period.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Morgan Stanley increased their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, TD Cowen decreased their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $654.54.

GE Vernova Stock Down 4.5%

NYSE GEV opened at $672.32 on Friday. The firm has a 50-day moving average price of $597.06 and a two-hundred day moving average price of $582.05. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00. The company has a market capitalization of $182.41 billion, a P/E ratio of 109.50, a P/E/G ratio of 5.28 and a beta of 1.71.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 32.57%.

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.