11 Capital Partners LP Acquires 5,211 Shares of GE Vernova Inc. (NYSE:GEV)

11 Capital Partners LP raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 40,348 shares of the company’s stock after purchasing an additional 5,211 shares during the period. GE Vernova makes up approximately 5.3% of 11 Capital Partners LP’s portfolio, making the stock its 9th biggest holding. 11 Capital Partners LP’s holdings in GE Vernova were worth $13,272,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley reissued an “overweight” rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research report on Thursday. BMO Capital Markets dropped their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $369.22.

GE Vernova Stock Performance

NYSE:GEV opened at $369.79 on Tuesday. The company’s 50-day simple moving average is $318.79 and its 200-day simple moving average is $334.09. GE Vernova Inc. has a fifty-two week low of $149.42 and a fifty-two week high of $447.50. The stock has a market capitalization of $100.93 billion and a P/E ratio of 66.51.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company earned ($0.47) earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 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.