Sumitomo Mitsui Trust Group Inc. Purchases 52,631 Shares of GE Vernova Inc. (NYSE:GEV)

Sumitomo Mitsui Trust Group Inc. increased its position in GE Vernova Inc. (NYSE:GEV) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 669,940 shares of the company’s stock after acquiring an additional 52,631 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of GE Vernova worth $220,363,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares during the period. Hengehold Capital Management LLC grew its holdings in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after acquiring an additional 29 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC grew its holdings in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares during the period. Finally, Pittenger & Anderson Inc. grew its holdings in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares during the period.

Analyst Ratings Changes

GEV has been the subject of several recent research reports. Johnson Rice initiated coverage on GE Vernova in a report on Friday. They set a “buy” rating and a $425.00 price target for the company. Morgan Stanley boosted their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Price Performance

Shares of GEV stock opened at $377.99 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock’s 50 day simple moving average is $357.71 and its two-hundred day simple moving average is $284.04. The company has a market cap of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that GE Vernova Inc. will post 6.33 EPS for the current year.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend 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.