Ieq Capital LLC Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Ieq Capital LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 106.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,541 shares of the company’s stock after acquiring an additional 15,234 shares during the period. Ieq Capital LLC’s holdings in GE Vernova were worth $9,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Asset Planning Inc acquired a new position in shares of GE Vernova in the 4th quarter worth $35,000. Riggs Asset Managment Co. Inc. grew its holdings in shares of GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after acquiring an additional 57 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GEV shares. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. BMO Capital Markets boosted their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. TD Cowen started 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 for the company. Finally, Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Trading Down 4.2 %

GEV stock opened at $359.57 on Friday. The firm has a market cap of $99.21 billion and a PE ratio of 64.67. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a fifty day simple moving average of $364.50 and a 200 day simple moving average of $298.16.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The company 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% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.