Forte Capital LLC ADV Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Forte Capital LLC ADV raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 237.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,061 shares of the company’s stock after purchasing an additional 2,155 shares during the period. Forte Capital LLC ADV’s holdings in GE Vernova were worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. ING Groep NV increased its position in GE Vernova by 130.6% during the 4th quarter. ING Groep NV now owns 59,408 shares of the company’s stock valued at $19,541,000 after purchasing an additional 33,645 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of GE Vernova by 2.3% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,138 shares of the company’s stock valued at $1,032,000 after buying an additional 72 shares in the last quarter. Hardy Reed LLC boosted its holdings in shares of GE Vernova by 111.3% in the 4th quarter. Hardy Reed LLC now owns 6,076 shares of the company’s stock valued at $1,999,000 after buying an additional 3,200 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of GE Vernova in the 4th quarter valued at about $34,714,000. Finally, Wealth Alliance boosted its holdings in shares of GE Vernova by 10.3% in the 4th quarter. Wealth Alliance now owns 960 shares of the company’s stock valued at $316,000 after buying an additional 90 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEV. Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, 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. Eight equities research 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Price Performance

NYSE:GEV opened at $359.57 on Friday. The firm has a market cap of $99.21 billion and a price-to-earnings ratio of 64.67. The company has a 50 day moving average price of $364.50 and a 200-day moving average price of $298.16. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, 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 approved a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

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. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s 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.