Light Street Capital Management LLC Purchases 14,945 Shares of GE Vernova Inc. (NYSE:GEV)

Light Street Capital Management LLC increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 766.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,895 shares of the company's stock after acquiring an additional 14,945 shares during the period. GE Vernova makes up 1.0% of Light Street Capital Management LLC's portfolio, making the stock its 23rd biggest position. Light Street Capital Management LLC's holdings in GE Vernova were worth $5,557,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lighthouse Investment Partners LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at about $1,493,000. Interval Partners LP increased its stake in GE Vernova by 35.7% during the 4th quarter. Interval Partners LP now owns 3,585 shares of the company's stock valued at $1,179,000 after buying an additional 944 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of GE Vernova by 148.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after buying an additional 690,513 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of GE Vernova by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 33,013 shares of the company's stock worth $10,867,000 after buying an additional 132 shares in the last quarter. Finally, Goodlander Investment Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth approximately $11,513,000.

GE Vernova Price Performance

Shares of NYSE GEV traded down $6.31 during trading hours on Thursday, hitting $426.53. 2,953,159 shares of the company's stock were exchanged, compared to its average volume of 3,310,891. The stock has a market capitalization of $116.41 billion and a price-to-earnings ratio of 76.71. The company's 50-day moving average price is $338.02 and its 200-day moving average price is $343.46. GE Vernova Inc. has a 1-year low of $150.01 and a 1-year high of $447.50.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 annualized dividend and a yield of 0.23%. GE Vernova's dividend payout ratio is 14.41%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. JPMorgan Chase & Co. cut their price objective on GE Vernova from $436.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Finally, Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $373.22.

GE Vernova 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.