Commerzbank Aktiengesellschaft FI Purchases 1,077 Shares of GE Vernova Inc. (NYSE:GEV)

Commerzbank Aktiengesellschaft FI increased its position in GE Vernova Inc. (NYSE:GEV) by 103.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,116 shares of the company’s stock after purchasing an additional 1,077 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in GE Vernova were worth $699,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GEV. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth about $2,507,296,000. WCM Investment Management LLC boosted its stake in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter. FMR LLC lifted its stake in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares during the period.

GE Vernova Trading Down 1.1 %

GE Vernova stock opened at $312.56 on Wednesday. The firm has a 50 day moving average of $362.56 and a 200 day moving average of $308.16. The firm has a market capitalization of $86.24 billion and a price-to-earnings ratio of 56.22. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Announces Dividend

The business also recently disclosed 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 0.32%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Barclays lowered their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Eight 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $347.83.

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.