Enterprise Financial Services Corp Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Enterprise Financial Services Corp bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The fund bought 728 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. WCM Investment Management LLC raised its holdings in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter. Raymond James Financial Inc. bought a new position in GE Vernova in the 4th quarter worth $219,187,000. FMR LLC raised 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 worth $6,131,677,000 after acquiring an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent analyst reports. Barclays dropped their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. BMO Capital Markets dropped their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. CICC Research started coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Robert W. Baird started coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Seven 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $347.83.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $288.90 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company has a market capitalization of $79.71 billion and a PE ratio of 51.96. The company has a 50 day moving average price of $360.05 and a two-hundred day moving average price of $309.70.

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

GE Vernova declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.