GE Vernova Inc. (NYSE:GEV) Shares Purchased by CENTRAL TRUST Co

CENTRAL TRUST Co boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 16.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,872 shares of the company’s stock after buying an additional 1,408 shares during the period. CENTRAL TRUST Co’s holdings in GE Vernova were worth $3,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Castleview Partners LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $28,000. Covestor Ltd raised its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley lifted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Stock Performance

NYSE GEV opened at $372.70 on Monday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a 50-day simple moving average of $355.29 and a 200-day simple moving average of $279.25. The firm has a market capitalization of $102.74 billion and a PE ratio of 67.03.

GE Vernova (NYSE:GEV) last issued its earnings results 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). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate 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. Equities analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend 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%.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.