Woodline Partners LP Takes Position in GE Vernova Inc. (NYSE:GEV)

Woodline Partners LP bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,554 shares of the company's stock, valued at approximately $5,445,000.

Several other institutional investors also recently modified their holdings of the business. Hengehold Capital Management LLC lifted its holdings in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after acquiring an additional 29 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after buying an additional 31 shares during the period. WASHINGTON TRUST Co boosted its holdings in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after buying an additional 31 shares during the period. Kovack Advisors Inc. increased its position in shares of GE Vernova by 1.0% during the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company's stock worth $1,042,000 after acquiring an additional 31 shares in the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of GE Vernova by 32.4% during the fourth quarter. NewSquare Capital LLC now owns 139 shares of the company's stock worth $46,000 after acquiring an additional 34 shares during the period.

GE Vernova Trading Up 1.4%

GEV stock traded up $6.49 during trading hours on Tuesday, hitting $470.88. 2,939,615 shares of the stock were exchanged, compared to its average volume of 3,330,786. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $477.91. The firm has a market capitalization of $128.52 billion and a P/E ratio of 84.69. The company has a 50-day simple moving average of $360.85 and a two-hundred day simple moving average of $351.62.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.47) EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid 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 yield of 0.21%. GE Vernova's payout ratio is 14.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEV. JPMorgan Chase & Co. boosted their price target on GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. BMO Capital Markets cut their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Robert W. Baird lifted their price target on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently 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.