Concurrent Investment Advisors LLC Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Concurrent Investment Advisors LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,138 shares of the company’s stock after buying an additional 72 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in GE Vernova were worth $1,032,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp boosted its position in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter worth $2,507,296,000. Geode Capital Management LLC boosted its position in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $327.68 on Friday. The firm has a market capitalization of $90.41 billion and a PE ratio of 58.93. The business has a 50-day moving average of $364.41 and a two-hundred day moving average of $300.25. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

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

GE Vernova announced that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Jefferies Financial Group boosted their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. 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’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.