Cullen Frost Bankers Inc. Increases Position in GE Vernova Inc. (NYSE:GEV)

Cullen Frost Bankers Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 552.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,187 shares of the company's stock after buying an additional 17,093 shares during the period. Cullen Frost Bankers Inc.'s holdings in GE Vernova were worth $6,640,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEV. Cedar Mountain Advisors LLC raised its stake in shares of 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 buying an additional 39 shares during the last quarter. Pineridge Advisors LLC raised its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares during the last quarter. Covestor Ltd grew its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC grew its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after acquiring an additional 77 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Robert W. Baird assumed coverage on GE Vernova in a research report on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price on the stock. BMO Capital Markets dropped their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $347.83.

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GE Vernova Price Performance

Shares of GEV stock traded down $4.32 during trading on Friday, hitting $288.90. 7,396,699 shares of the stock traded hands, compared to its average volume of 4,199,504. The firm has a market capitalization of $79.71 billion and a P/E ratio of 51.96. The firm's fifty day moving average price is $360.05 and its 200-day moving average price is $310.59. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly 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). 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 firm's revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. 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 payout ratio is presently 17.99%.

GE Vernova announced that its board has approved a stock 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 reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

GE Vernova Profile

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.