BOK Financial Private Wealth Inc. Increases Stake in GE Vernova Inc. (NYSE:GEV)

BOK Financial Private Wealth Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 327.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 218 shares of the company’s stock after purchasing an additional 167 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in GE Vernova were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Covestor Ltd lifted its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in GE Vernova during the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC lifted its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GEV shares. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Morgan Stanley increased 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. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, TD Cowen initiated coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

GE Vernova Stock Performance

GEV stock opened at $288.90 on Monday. The firm has a fifty day moving average price of $360.05 and a 200 day moving average price of $310.59. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market cap of $79.71 billion and a PE ratio of 51.96.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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). The company had revenue of $10.56 billion during 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 business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

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

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.