3,000 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Telligent Fund LP

Telligent Fund LP bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,000 shares of the company’s stock, valued at approximately $987,000. GE Vernova comprises about 0.9% of Telligent Fund LP’s portfolio, making the stock its 25th largest position.

A number of other institutional investors have also recently modified their holdings of GEV. Strategic Financial Concepts LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth about $17,900,000. Oakworth Capital Inc. boosted its holdings in shares of GE Vernova by 210.0% in the 4th quarter. Oakworth Capital Inc. now owns 155 shares of the company’s stock worth $51,000 after purchasing an additional 105 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of GE Vernova by 17.6% during the 4th quarter. Silver Oak Securities Incorporated now owns 927 shares of the company’s stock worth $306,000 after acquiring an additional 139 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of GE Vernova during the 4th quarter worth approximately $263,000. Finally, Bleakley Financial Group LLC lifted its stake in shares of GE Vernova by 29.9% during the 4th quarter. Bleakley Financial Group LLC now owns 9,979 shares of the company’s stock worth $3,282,000 after acquiring an additional 2,296 shares during the last quarter.

GE Vernova Stock Up 1.8 %

GEV stock opened at $374.67 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company has a market cap of $103.28 billion and a price-to-earnings ratio of 67.39. The business has a fifty day simple moving average of $356.93 and a 200-day simple moving average of $283.41.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share 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 buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on GEV shares. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Jefferies Financial Group boosted their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $342.94.

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.