Quaero Capital S.A. Purchases 2,732 Shares of GE Vernova Inc. (NYSE:GEV)

Quaero Capital S.A. boosted its position in GE Vernova Inc. (NYSE:GEV) by 70.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,601 shares of the company’s stock after acquiring an additional 2,732 shares during the period. GE Vernova accounts for 2.8% of Quaero Capital S.A.’s portfolio, making the stock its 8th largest position. Quaero Capital S.A.’s holdings in GE Vernova were worth $2,171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its position in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the period. Register Financial Advisors LLC acquired a new stake in GE Vernova during the 4th quarter worth $206,000. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova during the 3rd quarter valued at $1,101,000. Atria Investments Inc lifted its stake in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of several analyst reports. TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Morgan Stanley lifted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Barclays boosted their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Price Performance

Shares of GEV opened at $367.43 on Friday. The company has a market cap of $101.28 billion and a PE ratio of 66.08. The firm has a 50-day moving average of $361.32 and a 200-day moving average of $291.28. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are 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.