Victory Capital Management Inc. Purchases 2,901 Shares of GE Vernova Inc. (NYSE:GEV)

Victory Capital Management Inc. increased its holdings in GE Vernova Inc. (NYSE:GEV) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,479 shares of the company’s stock after purchasing an additional 2,901 shares during the period. Victory Capital Management Inc.’s holdings in GE Vernova were worth $30,748,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at about $2,507,296,000. WCM Investment Management LLC raised its position in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares in the last quarter. FMR LLC raised its position in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GE Vernova by 34.1% during 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 valued at $462,073,000 after buying an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised 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 valued at $203,134,000 after buying an additional 456,879 shares in the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $288.90 on Monday. The firm’s 50 day moving average price is $360.05 and its 200-day moving average price is $310.59. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The company has a market cap of $79.71 billion and a PE ratio of 51.96.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue 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 announced that its board has approved a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. GE Vernova’s payout ratio is 17.99%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GEV shares. Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Bank of America increased 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 started 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, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.83.

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.