GE Vernova Inc. (NYSE:GEV) Shares Acquired by KBC Group NV

KBC Group NV raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 43.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,237 shares of the company’s stock after purchasing an additional 16,111 shares during the period. KBC Group NV’s holdings in GE Vernova were worth $17,511,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the third quarter valued at $2,507,296,000. International Assets Investment Management LLC raised its holdings in shares of GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the period. WCM Investment Management LLC lifted its stake in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter. FMR LLC grew its holdings 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 purchasing an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after purchasing an additional 460,834 shares in the last quarter.

GE Vernova Trading Up 7.5 %

NYSE:GEV opened at $354.80 on Wednesday. The company has a 50-day moving average of $353.47 and a 200-day moving average of $274.72. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a market cap of $97.80 billion and a price-to-earnings ratio of 63.81.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during 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 firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova announced that its board has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend 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 17.99%.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley upped their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets raised their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Barclays raised their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $342.94.

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.