Jones Financial Companies Lllp Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Jones Financial Companies Lllp lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 93.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,170 shares of the company's stock after buying an additional 2,494 shares during the period. Jones Financial Companies Lllp's holdings in GE Vernova were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the third quarter worth about $2,507,296,000. WCM Investment Management LLC increased its position 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 purchasing an additional 1,161,901 shares during the last quarter. FMR LLC increased its position 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 acquiring an additional 584,208 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock valued at $462,073,000 after acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock valued at $203,134,000 after purchasing an additional 456,879 shares in the last quarter.

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GE Vernova Stock Performance

GEV traded down $4.32 on Friday, reaching $288.90. 7,396,699 shares of the company's stock were exchanged, compared to its average volume of 4,199,504. The company's 50 day moving average is $360.05 and its 200-day moving average is $310.59. The company has a market cap of $79.71 billion and a price-to-earnings ratio of 51.96. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given 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 (DPR) is 17.99%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent research reports. Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 price target for the company. BMO Capital Markets dropped their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Barclays lowered their price target on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target 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, Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $347.83.

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.