GE Vernova Inc. (NYSE:GEV) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,908 shares of the company's stock after buying an additional 1,896 shares during the period. CIBC Asset Management Inc's holdings in GE Vernova were worth $13,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Sanctuary Advisors LLC increased its position in shares of GE Vernova by 45.4% in the 4th quarter. Sanctuary Advisors LLC now owns 31,948 shares of the company's stock worth $10,509,000 after purchasing an additional 9,979 shares during the last quarter. KLCM Advisors Inc. increased its position in GE Vernova by 10.4% in the fourth quarter. KLCM Advisors Inc. now owns 2,136 shares of the company's stock worth $703,000 after buying an additional 201 shares during the period. Sierra Ocean LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $55,000. Monument Capital Management acquired a new stake in GE Vernova in the 4th quarter valued at approximately $210,000. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of GE Vernova by 36.3% during the fourth quarter. J.W. Cole Advisors Inc. now owns 4,667 shares of the company's stock valued at $1,535,000 after purchasing an additional 1,244 shares during the period.

GE Vernova Stock Down 8.9 %

Shares of GEV stock traded down $32.00 during trading hours on Friday, hitting $327.68. 6,959,273 shares of the company's stock traded hands, compared to its average volume of 3,723,897. The stock's fifty day simple moving average is $364.50 and its two-hundred day simple moving average is $298.16. The stock has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) 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 firm had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEV. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a report on Friday, January 24th. Morgan Stanley lifted their target price on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Marathon Capitl raised GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.