Swedbank AB Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Swedbank AB boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 280.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,687 shares of the company's stock after buying an additional 101,473 shares during the quarter. Swedbank AB's holdings in GE Vernova were worth $45,289,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the fourth 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 last quarter. Castleview Partners LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth approximately $28,000. Covestor Ltd raised its stake in shares of 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 in the last quarter. Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 77 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEV. Royal Bank of Canada reiterated an "outperform" rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target for the company. Citigroup upped their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, Truist Financial raised their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $342.94.

GE Vernova Stock Performance

Shares of GEV traded up $24.01 during trading hours on Thursday, hitting $377.26. 3,250,597 shares of the stock were exchanged, compared to its average volume of 4,217,194. The stock's 50-day moving average price is $353.99 and its two-hundred day moving average price is $276.49. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market cap of $103.99 billion and a price-to-earnings ratio of 67.85.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current year.

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

GE Vernova Dividend Announcement

The business also recently declared 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 dividend yield of 0.27%. GE Vernova's dividend payout ratio is presently 17.99%.

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.