Bank of Jackson Hole Trust Purchases Shares of 251 GE Vernova Inc. (NYSE:GEV)

Bank of Jackson Hole Trust bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 251 shares of the company’s stock, valued at approximately $83,000.

Several other hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. State Street Corp boosted its stake in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the 3rd quarter worth about $2,507,296,000. Geode Capital Management LLC boosted its stake 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 worth $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of GE Vernova by 83.1% during the 3rd 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 in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $374.87 on Thursday. The stock has a market capitalization of $103.43 billion and a P/E ratio of 67.42. The company has a 50 day moving average price of $363.90 and a 200 day moving average price of $297.73. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company 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 firm’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GEV shares. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday. They set an “outperform” rating on the stock. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday, January 24th. Barclays upped their price target on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

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.