105,537 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 105,537 shares of the company's stock, valued at approximately $34,714,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Armstrong Advisory Group Inc. lifted its position in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC raised its position in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after acquiring an additional 29 shares during the period. AdvisorNet Financial Inc lifted its holdings in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC grew its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after purchasing an additional 31 shares during the period. Finally, WASHINGTON TRUST Co increased its stake in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price target on the stock. Baird R W upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Stock Performance

Shares of GEV traded down $32.00 during midday trading on Friday, hitting $327.68. 6,959,273 shares of the stock were exchanged, compared to its average volume of 3,723,897. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a fifty day simple moving average of $364.50 and a 200 day simple moving average of $298.16. The firm has a market cap of $90.41 billion and a P/E ratio of 58.93.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.