Simon Quick Advisors LLC Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Simon Quick Advisors LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,815 shares of the company’s stock after buying an additional 188 shares during the quarter. Simon Quick Advisors LLC’s holdings in GE Vernova were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GEV. FMR LLC lifted its holdings in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp raised its position in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new position in GE Vernova during the 3rd quarter valued at about $2,507,296,000. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after acquiring an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares during the period.

GE Vernova Stock Up 2.6 %

GEV opened at $426.84 on Thursday. The company has a fifty day moving average of $347.50 and a two-hundred day moving average of $268.31. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $434.10.

GE Vernova (NYSE:GEV) last posted 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). GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Barclays increased their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Wolfe Research assumed coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $326.85.

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.