Blue Trust Inc. Increases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Blue Trust Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,604 shares of the company’s stock after purchasing an additional 242 shares during the quarter. Blue Trust Inc.’s holdings in GE Vernova were worth $857,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GEV. Register Financial Advisors LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at approximately $206,000. PFG Investments LLC lifted its position in GE Vernova by 8.3% during the fourth quarter. PFG Investments LLC now owns 7,303 shares of the company’s stock valued at $2,402,000 after buying an additional 557 shares during the period. Drive Wealth Management LLC bought a new stake in shares of GE Vernova during the 4th quarter valued at $244,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of GE Vernova by 11.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,632 shares of the company’s stock worth $537,000 after buying an additional 167 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its position in GE Vernova by 1.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 2,959 shares of the company’s stock valued at $973,000 after acquiring an additional 56 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday, January 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $353.65 on Thursday. The company has a market capitalization of $97.48 billion and a P/E ratio of 63.61. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm’s 50 day simple moving average is $353.77 and its two-hundred day simple moving average is $275.94.

GE Vernova (NYSE:GEV) last released its 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.