751 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Capital Investment Counsel Inc

Capital Investment Counsel Inc purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 751 shares of the company’s stock, valued at approximately $247,000.

Other institutional investors have also modified their holdings of the company. Forte Capital LLC ADV boosted its stake in shares of GE Vernova by 237.9% in the 4th quarter. Forte Capital LLC ADV now owns 3,061 shares of the company’s stock valued at $1,007,000 after buying an additional 2,155 shares during the period. ING Groep NV lifted its stake in GE Vernova by 130.6% in the fourth quarter. ING Groep NV now owns 59,408 shares of the company’s stock worth $19,541,000 after acquiring an additional 33,645 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in GE Vernova by 2.3% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,138 shares of the company’s stock worth $1,032,000 after acquiring an additional 72 shares during the last quarter. Hardy Reed LLC grew its holdings in GE Vernova by 111.3% during the 4th quarter. Hardy Reed LLC now owns 6,076 shares of the company’s stock worth $1,999,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $34,714,000.

GE Vernova Price Performance

GE Vernova stock opened at $359.57 on Friday. The business has a 50 day simple moving average of $364.50 and a 200-day simple moving average of $298.16. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a market capitalization of $99.21 billion and a PE ratio of 64.67.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for 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 business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Barclays upped their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $350.13.

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.