TCW Group Inc. Acquires 38,547 Shares of GE Vernova Inc. (NYSE:GEV)

TCW Group Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 24.9% during the fourth quarter, Holdings Channel reports. The fund owned 193,140 shares of the company’s stock after purchasing an additional 38,547 shares during the period. TCW Group Inc.’s holdings in GE Vernova were worth $63,530,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Sigma Planning Corp boosted its position in GE Vernova by 9.4% in the 4th quarter. Sigma Planning Corp now owns 4,241 shares of the company’s stock valued at $1,395,000 after buying an additional 364 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position in GE Vernova by 3.7% in the 4th quarter. Thompson Davis & CO. Inc. now owns 2,125 shares of the company’s stock valued at $699,000 after buying an additional 75 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in GE Vernova by 60.0% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 1,259 shares of the company’s stock valued at $414,000 after buying an additional 472 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in GE Vernova by 3.7% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 5,059 shares of the company’s stock valued at $1,664,000 after buying an additional 182 shares during the last quarter. Finally, PYA Waltman Capital LLC bought a new position in GE Vernova in the 4th quarter valued at $224,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GEV. Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Robert W. Baird initiated coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Finally, Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Price Performance

GEV opened at $327.68 on Friday. The business’s 50-day moving average price is $364.41 and its two-hundred day moving average price is $300.25. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

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.