KBC Group NV Acquires 16,111 Shares of GE Vernova Inc. (NYSE:GEV)

KBC Group NV boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 43.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,237 shares of the company's stock after acquiring an additional 16,111 shares during the quarter. KBC Group NV's holdings in GE Vernova were worth $17,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA acquired a new stake in shares of GE Vernova during the 4th quarter worth about $1,446,000. Blue Trust Inc. increased its holdings in shares of GE Vernova by 10.2% during the fourth quarter. Blue Trust Inc. now owns 2,604 shares of the company's stock worth $857,000 after buying an additional 242 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $206,000. PFG Investments LLC raised its stake in shares of GE Vernova by 8.3% in the fourth quarter. PFG Investments LLC now owns 7,303 shares of the company's stock valued at $2,402,000 after acquiring an additional 557 shares during the last quarter. Finally, Drive Wealth Management LLC acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $244,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price target on GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a report on Tuesday, January 21st. Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $342.94.

GE Vernova Trading Down 2.7 %

Shares of NYSE:GEV traded down $10.24 during trading on Friday, hitting $372.70. 4,138,772 shares of the company's stock traded hands, compared to its average volume of 3,848,328. The company has a 50-day moving average price of $355.29 and a 200-day moving average price of $278.58. 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 $102.74 billion and a price-to-earnings ratio of 67.03.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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 the consensus estimate of $10.70 billion. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is presently 17.99%.

GE Vernova announced that its board has initiated a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.