Voleon Capital Management LP Takes Position in GE Vernova Inc. (NYSE:GEV)

Voleon Capital Management LP acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,883 shares of the company's stock, valued at approximately $9,172,000. GE Vernova accounts for 0.7% of Voleon Capital Management LP's holdings, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC lifted 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 buying an additional 39 shares during the period. MRP Capital Investments LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC increased its stake 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 in the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% during the 4th 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, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the fourth quarter worth about $30,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Morgan Stanley reissued an "overweight" rating and issued a $422.00 price target (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Royal Bank of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on shares of GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research note on Thursday, March 27th. Finally, Jefferies Financial Group upped their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Price Performance

NYSE:GEV traded up $14.19 during trading hours on Friday, hitting $396.48. The company's stock had a trading volume of 3,600,690 shares, compared to its average volume of 3,340,810. The company has a market capitalization of $108.21 billion and a P/E ratio of 71.31. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The stock has a fifty day simple moving average of $322.79 and a 200-day simple moving average of $336.27.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during 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 quarter in the prior year, the firm earned ($0.47) EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued 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 0.25%. GE Vernova's payout ratio is presently 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.