Adage Capital Partners GP L.L.C. Has $124.88 Million Position in GE Vernova Inc. $GEV

Adage Capital Partners GP L.L.C. grew its position in GE Vernova Inc. (NYSE:GEV) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 235,999 shares of the company’s stock after purchasing an additional 23,326 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of GE Vernova worth $124,879,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Pines Wealth Management LLC bought a new stake in GE Vernova in the second quarter valued at about $408,000. Dupree Financial Group LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $253,000. International Assets Investment Management LLC increased its stake in shares of GE Vernova by 18.8% in the 2nd quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after acquiring an additional 619 shares during the last quarter. Alpha Financial Partners LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $230,000. Finally, Aviva PLC boosted its stake in GE Vernova by 6.7% during the 2nd quarter. Aviva PLC now owns 205,086 shares of the company’s stock worth $108,521,000 after acquiring an additional 12,790 shares during the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $672.32 on Friday. The firm has a market cap of $182.41 billion, a price-to-earnings ratio of 109.50, a price-to-earnings-growth ratio of 5.28 and a beta of 1.71. The stock’s 50-day moving average is $597.06 and its 200-day moving average is $582.05. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the firm posted ($0.35) EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday. Mizuho dropped their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. BMO Capital Markets lifted their target price on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their price target on GE Vernova from $760.00 to $835.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $654.54.

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.