Metis Global Partners LLC Acquires 405 Shares of GE Vernova Inc. (NYSE:GEV)

Metis Global Partners LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,883 shares of the company’s stock after purchasing an additional 405 shares during the period. Metis Global Partners LLC’s holdings in GE Vernova were worth $3,580,000 as of its most recent SEC filing.

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

GE Vernova Price Performance

Shares of GEV stock opened at $335.80 on Friday. The company has a market capitalization of $92.65 billion and a price-to-earnings ratio of 60.40. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company’s fifty day moving average price is $363.85 and its 200-day moving average price is $305.51.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova’s payout ratio is 17.99%.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barclays increased their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Citigroup raised their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Eight equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.