abrdn plc Has $33.77 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

abrdn plc trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,363 shares of the company’s stock after selling 6,426 shares during the quarter. abrdn plc’s holdings in GE Vernova were worth $33,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Point Inc. lifted its stake in shares of GE Vernova by 16.6% in the 4th quarter. Trust Point Inc. now owns 1,852 shares of the company’s stock valued at $609,000 after purchasing an additional 264 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of GE Vernova by 31.9% in the 4th quarter. Childress Capital Advisors LLC now owns 1,165 shares of the company’s stock valued at $383,000 after purchasing an additional 282 shares during the period. Fourpath Capital Management LLC lifted its stake in shares of GE Vernova by 10.1% in the 4th quarter. Fourpath Capital Management LLC now owns 612 shares of the company’s stock valued at $201,000 after purchasing an additional 56 shares during the period. Optas LLC lifted its stake in shares of GE Vernova by 2.7% in the 4th quarter. Optas LLC now owns 1,959 shares of the company’s stock valued at $644,000 after purchasing an additional 51 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in shares of GE Vernova by 16.8% in the 4th quarter. Boston Trust Walden Corp now owns 1,564 shares of the company’s stock valued at $514,000 after purchasing an additional 225 shares during the period.

GE Vernova Stock Up 3.1 %

GEV stock opened at $367.43 on Thursday. The firm has a market cap of $101.28 billion and a PE ratio of 66.08. The business has a 50 day moving average of $356.29 and a 200-day moving average of $282.82. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last posted 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova declared that its board has approved a stock 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 buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GEV shares. Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Barclays boosted their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $342.94.

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.