Telligent Fund LP Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Telligent Fund LP increased its stake in GE Vernova Inc. by 66.7%, owning a total of 5,000 shares valued at approximately $1.5 million.
• In the first quarter, other institutional investors also significantly boosted their holdings in GE Vernova, including Golden State Wealth Management LLC and Wealth Enhancement Advisory Services LLC, reflecting growing interest in the company.
• GE Vernova reported earnings of $1.86 per share, surpassing analyst expectations and marking a year-over-year revenue increase of 11.1%.

Telligent Fund LP grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 66.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,000 shares of the company's stock after buying an additional 2,000 shares during the period. GE Vernova accounts for 1.7% of Telligent Fund LP's portfolio, making the stock its 21st biggest position. Telligent Fund LP's holdings in GE Vernova were worth $1,526,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. Orion Capital Management LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000.

GE Vernova Price Performance

NYSE GEV traded up $7.33 during mid-day trading on Tuesday, reaching $658.09. The stock had a trading volume of 1,803,332 shares, compared to its average volume of 2,834,080. GE Vernova Inc. has a 1 year low of $173.07 and a 1 year high of $677.29. The stock has a market cap of $179.15 billion, a PE ratio of 158.58, a price-to-earnings-growth ratio of 4.50 and a beta of 1.90. The company has a fifty day moving average price of $555.12 and a 200 day moving average price of $427.68.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect 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 Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Finally, Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

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.