Two Sigma Advisers LP Purchases Shares of 53,900 GE Vernova Inc. (NYSE:GEV)

Two Sigma Advisers LP purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,900 shares of the company's stock, valued at approximately $17,729,000.

Several other hedge funds have also modified their holdings of the stock. Tidal Investments LLC grew its stake in shares of GE Vernova by 701.7% during the fourth quarter. Tidal Investments LLC now owns 58,294 shares of the company's stock valued at $19,175,000 after purchasing an additional 51,023 shares during the last quarter. True Wealth Design LLC grew its stake in shares of GE Vernova by 117.7% during the fourth quarter. True Wealth Design LLC now owns 135 shares of the company's stock valued at $44,000 after purchasing an additional 73 shares during the last quarter. Tang Capital Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $891,000. Tema Etfs LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $682,000. Finally, Toronto Dominion Bank grew its stake in shares of GE Vernova by 8.6% during the fourth quarter. Toronto Dominion Bank now owns 147,639 shares of the company's stock valued at $48,563,000 after purchasing an additional 11,701 shares during the last quarter.

GE Vernova Stock Up 1.4%

Shares of NYSE:GEV traded up $6.54 during midday trading on Friday, reaching $465.36. 3,569,081 shares of the company were exchanged, compared to its average volume of 3,332,350. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $469.81. The stock has a fifty day simple moving average of $358.25 and a two-hundred day simple moving average of $350.65. The firm has a market cap of $127.01 billion and a PE ratio of 83.70.

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, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business posted ($0.47) earnings per share. The firm's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova's payout ratio is 14.41%.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Johnson Rice initiated coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective on the stock. Susquehanna reaffirmed a "positive" rating and issued a $499.00 price objective (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $374.62.

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.