JAT Capital Mgmt LP Takes $3.29 Million Position in GE Vernova Inc. (NYSE:GEV)

JAT Capital Mgmt LP purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $3,289,000. GE Vernova comprises about 0.5% of JAT Capital Mgmt LP’s portfolio, making the stock its 26th biggest position.

Several other large investors have also bought and sold shares of GEV. Howard Capital Management Group LLC bought a new position in GE Vernova during the 3rd quarter worth $213,000. Virtu Financial LLC bought a new position in shares of GE Vernova in the 3rd quarter worth about $1,481,000. Westside Investment Management Inc. raised its position in shares of GE Vernova by 24.0% in the 3rd quarter. Westside Investment Management Inc. now owns 362 shares of the company’s stock worth $92,000 after acquiring an additional 70 shares in the last quarter. Fulcrum Equity Management bought a new position in shares of GE Vernova in the 3rd quarter worth about $218,000. Finally, World Investment Advisors LLC raised its position in shares of GE Vernova by 41.4% in the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock worth $733,000 after acquiring an additional 842 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $370.94 on Wednesday. GE Vernova Inc. has a 1 year low of $149.42 and a 1 year high of $447.50. The stock has a market cap of $101.24 billion and a P/E ratio of 66.72. The firm has a 50-day moving average of $319.02 and a 200 day moving average of $334.35.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is 14.41%.

Analyst Upgrades and Downgrades

GEV has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on GE Vernova from $436.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. TD Cowen reduced their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Susquehanna raised their target price on GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating in a research note on Thursday, April 24th. Finally, New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $369.22.

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.