652 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Tower Bridge Advisors

Tower Bridge Advisors bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 652 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter valued at about $2,507,296,000. WCM Investment Management LLC increased its position in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC raised its stake in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after purchasing an additional 456,879 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GEV shares. BMO Capital Markets boosted their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Trading Up 2.9 %

Shares of GE Vernova stock opened at $335.80 on Friday. The company has a fifty day simple moving average of $363.85 and a 200-day simple moving average of $304.63. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock has a market cap of $92.65 billion and a price-to-earnings ratio of 60.40.

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 the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.