Y Intercept Hong Kong Ltd Purchases 12,301 Shares of GE Vernova Inc. (NYSE:GEV)

Y Intercept Hong Kong Ltd grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 377.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,562 shares of the company's stock after buying an additional 12,301 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in GE Vernova were worth $4,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the period. Capital International Investors increased its position in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC increased its position in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the period. Norges Bank acquired a new position in GE Vernova in the 4th quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp increased its position in GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after acquiring an additional 343,837 shares during the period.

GE Vernova Stock Up 3.3%

GE Vernova stock traded up $20.32 during trading hours on Friday, hitting $644.29. The stock had a trading volume of 2,341,921 shares, compared to its average volume of 3,689,504. The stock has a market capitalization of $175.85 billion, a P/E ratio of 155.44, a price-to-earnings-growth ratio of 4.70 and a beta of 1.86. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $651.22. The stock's 50-day moving average price is $506.49 and its 200-day moving average price is $404.16.

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. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. GE Vernova's payout ratio is 14.41%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Barclays increased their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $540.96.

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.