Strategic Financial Concepts LLC Makes New $17.90 Million Investment in GE Vernova Inc. (NYSE:GEV)

Strategic Financial Concepts LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 54,418 shares of the company's stock, valued at approximately $17,900,000. GE Vernova accounts for approximately 0.5% of Strategic Financial Concepts LLC's holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the 3rd quarter worth about $2,507,296,000. International Assets Investment Management LLC boosted its position in shares of 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 acquiring an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC grew its position in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock valued at $639,704,000 after buying an additional 1,161,901 shares during the last quarter. FMR LLC lifted its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $462,073,000 after acquiring an additional 460,834 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV traded up $1.62 during trading hours on Wednesday, hitting $374.87. 1,667,496 shares of the company's stock traded hands, compared to its average volume of 3,631,086. The firm has a market cap of $103.43 billion and a P/E ratio of 67.42. The stock's fifty day moving average price is $363.28 and its two-hundred day moving average price is $297.19. 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 announced 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). 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 for the quarter, compared to analyst estimates of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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 issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova's dividend payout ratio (DPR) is currently 17.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a "buy" rating and a $400.00 target price for the company. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $350.13.

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.