Adage Capital Partners GP L.L.C. Has $64.93 Million Stock Position in GE Vernova Inc. $GEV

Adage Capital Partners GP L.L.C. lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 46.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 212,673 shares of the company's stock after acquiring an additional 67,264 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of GE Vernova worth $64,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Westover Capital Advisors LLC increased its position in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after acquiring an additional 25 shares during the last quarter. SVB Wealth LLC grew its holdings in GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares during the period. Stonebridge Financial Group LLC grew its holdings in GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares during the period. Finally, Hemington Wealth Management grew its holdings in GE Vernova by 20.3% during the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after purchasing an additional 30 shares during the period.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a report on Monday, July 28th. Barclays boosted their price objective on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Susquehanna boosted their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $579.73 on Wednesday. The company has a market capitalization of $157.81 billion, a PE ratio of 139.69, a price-to-earnings-growth ratio of 4.24 and a beta of 1.87. GE Vernova Inc. has a 52-week low of $187.55 and a 52-week high of $677.29. The company has a fifty day moving average of $593.39 and a 200-day moving average of $453.54.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

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.

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