GE Vernova Inc. (NYSE:GEV) Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,872 shares of the company's stock after buying an additional 1,408 shares during the period. CENTRAL TRUST Co's holdings in GE Vernova were worth $3,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GEV. FMR LLC boosted 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 purchasing an additional 584,208 shares during the period. State Street Corp raised its stake in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $2,507,296,000. Geode Capital Management LLC lifted its position in 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 period. Finally, WCM Investment Management LLC boosted its stake in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter.

GE Vernova Stock Up 3.1 %

NYSE:GEV traded up $10.90 during midday trading on Wednesday, hitting $367.43. The stock had a trading volume of 2,805,687 shares, compared to its average volume of 4,193,311. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The stock has a 50-day moving average of $356.29 and a 200 day moving average of $282.82. The company has a market capitalization of $101.28 billion and a price-to-earnings ratio of 66.08.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

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 outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova's dividend payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GEV. Jefferies Financial Group increased their target price on GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Wells Fargo & Company increased their price target on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a "buy" rating and a $354.00 target price for the company. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, BMO Capital Markets raised their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $342.94.

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.