Jacobs Levy Equity Management Inc. Has $379.97 Million Stake in GE Vernova Inc. (NYSE:GEV)

Jacobs Levy Equity Management Inc. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 148.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,155,183 shares of the company's stock after buying an additional 690,513 shares during the period. GE Vernova accounts for approximately 1.3% of Jacobs Levy Equity Management Inc.'s holdings, making the stock its 9th biggest position. Jacobs Levy Equity Management Inc. owned 0.42% of GE Vernova worth $379,974,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GEV. Norges Bank purchased a new position in shares of GE Vernova in the 4th quarter worth about $1,109,720,000. Capital International Investors raised its position in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. FMR LLC raised its position in shares of GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of GE Vernova in the 4th quarter worth about $219,187,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating for the company. Finally, TD Cowen decreased their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $369.22.

GE Vernova Trading Up 0.3%

Shares of GEV stock traded up $1.27 on Wednesday, reaching $434.60. The company's stock had a trading volume of 627,960 shares, compared to its average volume of 3,304,352. The stock's fifty day simple moving average is $335.14 and its 200-day simple moving average is $342.83. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $447.50. The company has a market capitalization of $118.62 billion and a price-to-earnings ratio of 77.97.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the firm posted ($0.47) earnings per share. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research 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 declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. GE Vernova's dividend payout ratio is presently 14.41%.

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.