Los Angeles Capital Management LLC Has $13.26 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Los Angeles Capital Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 2,897.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,310 shares of the company’s stock after purchasing an additional 38,965 shares during the quarter. Los Angeles Capital Management LLC’s holdings in GE Vernova were worth $13,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Waverton Investment Management Ltd boosted its stake in GE Vernova by 10.0% during the third 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 in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $206,000. Hanlon Investment Management Inc. acquired a new position in GE Vernova in the third quarter worth about $1,101,000. Atria Investments Inc lifted its stake in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares in the last quarter.

GE Vernova Trading Up 5.5 %

Shares of NYSE GEV opened at $335.15 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm’s 50-day moving average is $364.13 and its 200-day moving average is $303.37. The firm has a market capitalization of $92.47 billion and a PE ratio of 60.28.

GE Vernova (NYSE:GEV) last announced 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 during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid 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 dividend yield of 0.30%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GEV shares. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. The Goldman Sachs Group upped their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.