Private Advisor Group LLC Buys 6,873 Shares of GE Vernova Inc. (NYSE:GEV)

Private Advisor Group LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,971 shares of the company's stock after purchasing an additional 6,873 shares during the quarter. Private Advisor Group LLC's holdings in GE Vernova were worth $8,872,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the third quarter worth $2,507,296,000. International Assets Investment Management LLC lifted its position in GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company's stock worth $366,098,000 after buying an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC grew its holdings in GE Vernova by 83.1% during the 3rd 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 during the last quarter. FMR LLC grew its holdings in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GE Vernova by 34.1% in the 3rd 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 in the last quarter.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. Jefferies Financial Group increased their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research note on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. BMO Capital Markets lifted their target price on GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Finally, TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Trading Down 8.9 %

Shares of NYSE:GEV traded down $32.00 during trading on Friday, hitting $327.68. 6,959,273 shares of the company's stock traded hands, compared to its average volume of 3,723,897. The company has a 50-day moving average price of $364.50 and a 200-day moving average price of $298.16. 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 $90.41 billion and a price-to-earnings ratio of 58.93.

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 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 0.31%. The ex-dividend date 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.