Pacer Advisors Inc. Has $7.36 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Pacer Advisors Inc. boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,359 shares of the company's stock after acquiring an additional 1,997 shares during the period. Pacer Advisors Inc.'s holdings in GE Vernova were worth $7,355,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after purchasing an additional 39 shares during the period. Castleview Partners LLC acquired a new stake in GE Vernova in the 3rd quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in GE Vernova during the 2nd quarter valued at $29,000. Covestor Ltd boosted its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova in the third quarter worth $31,000.

GE Vernova Price Performance

Shares of GEV stock traded up $29.48 on Thursday, hitting $382.73. The company's stock had a trading volume of 5,646,711 shares, compared to its average volume of 4,347,900. The stock has a market capitalization of $105.50 billion and a price-to-earnings ratio of 68.84. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm's fifty day moving average price is $353.99 and its 200-day moving average price is $276.49.

GE Vernova (NYSE:GEV - Get Free Report) last released 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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 5.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova declared that its board has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is 17.99%.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Royal Bank of Canada restated an "outperform" rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday. Morgan Stanley upped 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. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.