GE Vernova Inc. (NYSE:GEV) Holdings Raised by Candriam S.C.A.

Candriam S.C.A. boosted its stake in GE Vernova Inc. (NYSE:GEV) by 3,543.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,447 shares of the company’s stock after buying an additional 104,498 shares during the quarter. Candriam S.C.A.’s holdings in GE Vernova were worth $35,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. Howard Capital Management Group LLC acquired a new stake in GE Vernova in the 3rd quarter worth $213,000. Janney Montgomery Scott LLC lifted its holdings in GE Vernova by 16.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company’s stock valued at $9,789,000 after purchasing an additional 5,472 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of GE Vernova by 3.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 76,832 shares of the company’s stock worth $19,591,000 after acquiring an additional 2,377 shares during the last quarter. Pittenger & Anderson Inc. raised its stake 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 last quarter. Finally, Fractal Investments LLC bought a new position in shares of GE Vernova in the third quarter worth about $1,530,000.

Analyst Ratings Changes

Several brokerages have recently commented on GEV. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Citigroup upped their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Finally, BMO Capital Markets cut their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.83.

GE Vernova Trading Up 1.3 %

Shares of GEV stock opened at $317.17 on Thursday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $87.51 billion and a price-to-earnings ratio of 57.04. The stock has a fifty day simple moving average of $361.95 and a two-hundred day simple moving average of $308.22.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs 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.