Forte Capital LLC ADV Raises Position in GE Vernova Inc. (NYSE:GEV)

Forte Capital LLC ADV boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 237.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,061 shares of the company's stock after acquiring an additional 2,155 shares during the quarter. Forte Capital LLC ADV's holdings in GE Vernova were worth $1,007,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp grew its stake in shares of GE Vernova by 1.1% during 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 during the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC grew its stake in shares of GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock valued at $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in shares of GE Vernova by 83.1% in the third 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 during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEV. Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 target price for the company. in a report on Friday, January 24th. Robert W. Baird started coverage on GE Vernova in a report on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price for the company. Finally, Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $350.13.

GE Vernova Trading Down 8.9 %

GEV traded down $32.00 during midday trading on Friday, hitting $327.68. 6,959,273 shares of the company were exchanged, compared to its average volume of 3,723,897. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The company's 50 day simple moving average is $364.50 and its 200 day simple moving average is $298.16.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business's revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is 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.