Forsta AP Fonden Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Forsta AP Fonden lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,931 shares of the company's stock after buying an additional 4,800 shares during the period. Forsta AP Fonden's holdings in GE Vernova were worth $20,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $2,507,296,000. International Assets Investment Management LLC boosted its holdings in shares of GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company's stock valued at $366,098,000 after acquiring an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its holdings in shares of 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 during the period. FMR LLC raised its position 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GE Vernova by 34.1% during 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 purchasing an additional 460,834 shares during the period.

GE Vernova Stock Up 6.1 %

Shares of GEV traded up $21.47 during mid-day trading on Thursday, reaching $374.72. 2,044,612 shares of the company's stock were exchanged, compared to its average volume of 4,147,854. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The company has a market cap of $103.29 billion and a price-to-earnings ratio of 67.40. The company has a 50-day simple moving average of $353.99 and a two-hundred day simple moving average of $276.49.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a report on Friday, December 13th. BMO Capital Markets upped their price objective on GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. 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. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price target for the company. in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $342.94.

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.