GE Vernova Inc. (NYSE:GEV) Shares Acquired by Amundi

Amundi raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 797,053 shares of the company’s stock after purchasing an additional 46,098 shares during the quarter. Amundi’s holdings in GE Vernova were worth $262,175,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of GE Vernova in the 4th quarter valued at $35,000. Riggs Asset Managment Co. Inc. boosted its holdings in shares of GE Vernova by 93.4% in the 4th 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 during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $288.90 on Friday. The company has a fifty day moving average of $360.05 and a two-hundred day moving average of $309.70. The stock has a market capitalization of $79.71 billion and a PE ratio of 51.96. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last issued its 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). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEV. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a report on Wednesday. Morgan Stanley upped their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price 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.