Intelligence Driven Advisers LLC Acquires Shares of 658 GE Vernova Inc. (NYSE:GEV)

Intelligence Driven Advisers LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 658 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. State Street Corp raised its position in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC increased its stake in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, WCM Investment Management LLC raised its holdings in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter.

GE Vernova Trading Down 0.8 %

NYSE GEV opened at $369.76 on Thursday. The firm has a market capitalization of $101.92 billion and a PE ratio of 66.50. The business’s 50-day moving average price is $360.87 and its two-hundred day moving average price is $290.73. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets increased their target price on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley boosted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $350.13.

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.