QRG Capital Management Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,393 shares of the company's stock after purchasing an additional 7,094 shares during the period. QRG Capital Management Inc.'s holdings in GE Vernova were worth $13,944,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares during the last quarter. Asset Planning Inc bought a new stake in GE Vernova during the fourth quarter worth about $35,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock worth $39,000 after buying an additional 57 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the last quarter.
GE Vernova Trading Down 6.0 %
NYSE GEV traded down $19.99 during midday trading on Monday, hitting $315.19. The company had a trading volume of 4,841,188 shares, compared to its average volume of 3,974,963. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a 50-day moving average price of $363.85 and a 200-day moving average price of $306.36. The company has a market capitalization of $86.96 billion and a PE ratio of 56.69.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The company 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%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication 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. Shareholders 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 annualized dividend and a yield of 0.32%. GE Vernova's dividend payout ratio is presently 17.99%.
Analyst Upgrades and Downgrades
GEV has been the topic of a number of research analyst reports. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Jefferies Financial Group boosted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Citigroup raised their price objective on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Finally, Truist Financial upped their target price on GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Eight 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $347.83.
Check Out Our Latest Research Report on GE Vernova
GE Vernova Company Profile
(
Free Report)
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.
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