GE Vernova Inc. (NYSE:GEV) Shares Purchased by ING Groep NV

ING Groep NV boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 130.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 59,408 shares of the company’s stock after acquiring an additional 33,645 shares during the period. ING Groep NV’s holdings in GE Vernova were worth $19,541,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC raised its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Covestor Ltd raised its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC raised its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period.

GE Vernova Trading Down 4.2 %

GEV stock opened at $359.57 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company’s 50 day moving average is $364.50 and its two-hundred day moving average is $298.16. The stock has a market cap of $99.21 billion and a P/E ratio of 64.67.

GE Vernova (NYSE:GEV) last released 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 analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given 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 0.28%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analysts Set New Price Targets

A number of research firms have weighed in on GEV. BMO Capital Markets upped their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, CICC Research assumed coverage on shares of GE Vernova in a research note on Wednesday. They set an “outperform” rating for the company. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.