GE Vernova Inc. (NYSE:GEV) Stock Position Raised by Candriam S.C.A.

Candriam S.C.A. grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 3,543.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,447 shares of the company's stock after acquiring an additional 104,498 shares during the quarter. Candriam S.C.A.'s holdings in GE Vernova were worth $35,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GEV. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares during the last quarter. Covestor Ltd grew its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after buying an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new position in GE Vernova during the 3rd quarter worth $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after buying an additional 77 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Barclays lowered their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada restated an "outperform" rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $347.83.

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GE Vernova Stock Performance

Shares of NYSE:GEV traded down $4.32 during midday trading on Friday, reaching $288.90. The company had a trading volume of 7,396,699 shares, compared to its average volume of 4,199,504. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market cap of $79.71 billion and a price-to-earnings ratio of 51.96. The company has a fifty day simple moving average of $360.05 and a two-hundred day simple moving average of $310.59.

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 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 company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed 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 0.35%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio is currently 17.99%.

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

GE Vernova Company 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.