Worldquant Millennium Advisors LLC Raises Position in GE Vernova Inc. (NYSE:GEV)

Worldquant Millennium Advisors LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,443.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,668 shares of the company's stock after purchasing an additional 119,395 shares during the period. Worldquant Millennium Advisors LLC's holdings in GE Vernova were worth $41,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the period. Finally, Navigoe LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $27,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Johnson Rice began coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Finally, Guggenheim reaffirmed a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $374.62.

GE Vernova Price Performance

GE Vernova stock traded up $6.54 during mid-day trading on Friday, hitting $465.36. The company's stock had a trading volume of 3,569,081 shares, compared to its average volume of 3,336,197. The stock has a market cap of $127.01 billion and a price-to-earnings ratio of 83.70. The business has a 50 day moving average price of $358.25 and a 200-day moving average price of $350.55. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $469.81.

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

GE Vernova Announces Dividend

The company also recently declared 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 of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova's dividend payout ratio is currently 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.