TCW Group Inc. Has $63.53 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

TCW Group Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 24.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,140 shares of the company’s stock after buying an additional 38,547 shares during the period. TCW Group Inc. owned approximately 0.07% of GE Vernova worth $63,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. FMR LLC grew its stake in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp grew its stake in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new position in GE Vernova in the third quarter valued at about $2,507,296,000. Geode Capital Management LLC grew its stake in GE Vernova by 1.5% in 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 purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in GE Vernova by 83.1% in the third 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.

GE Vernova Stock Down 8.9 %

GE Vernova stock opened at $327.68 on Friday. The business has a 50 day moving average price of $364.41 and a two-hundred day moving average price of $300.25. The stock has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 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 authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued 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 0.31%. GE Vernova’s payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GEV shares. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Eight investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.