Field & Main Bank Has $752,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Field & Main Bank boosted its position in GE Vernova Inc. (NYSE:GEV) by 43.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,285 shares of the company’s stock after acquiring an additional 690 shares during the period. Field & Main Bank’s holdings in GE Vernova were worth $752,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Thrivent Financial for Lutherans acquired a new stake in GE Vernova during the second quarter worth approximately $2,339,000. Public Sector Pension Investment Board bought a new position in GE Vernova during the 2nd quarter worth $1,800,000. AQR Capital Management LLC acquired a new stake in shares of GE Vernova during the second quarter worth $22,066,000. Mackenzie Financial Corp acquired a new stake in shares of GE Vernova during the second quarter worth $4,004,000. Finally, Scientech Research LLC acquired a new position in shares of GE Vernova in the second quarter valued at about $257,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Wolfe Research began coverage on 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 boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Price Performance

GE Vernova stock opened at $359.48 on Wednesday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The business has a 50 day simple moving average of $353.77 and a 200-day simple moving average of $275.94. The stock has a market capitalization of $99.09 billion and a PE ratio of 64.27.

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 net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.