GE Vernova Inc. (NYSE:GEV) Shares Bought by LGT Group Foundation

LGT Group Foundation grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,084 shares of the company’s stock after acquiring an additional 2,518 shares during the period. LGT Group Foundation’s holdings in GE Vernova were worth $9,896,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of GE Vernova during the fourth quarter valued at about $35,000. Riggs Asset Managment Co. Inc. grew its stake 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 valued at $39,000 after acquiring an additional 57 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Jefferies Financial Group lifted their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research note on Tuesday, January 28th. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. Finally, BMO Capital Markets lifted their price target on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Up 2.9 %

GEV opened at $335.80 on Monday. The business’s 50 day moving average is $363.85 and its 200-day moving average is $306.36. The stock has a market cap of $92.65 billion and a PE ratio of 60.40. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are usually 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. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.30%. GE Vernova’s payout ratio is 17.99%.

About GE Vernova

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.