Enterprise Financial Services Corp Invests $239,000 in GE Vernova Inc. (NYSE:GEV)

Enterprise Financial Services Corp purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 728 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC boosted its holdings in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC boosted its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Asset Planning Inc purchased a new position in GE Vernova in the fourth quarter valued at $35,000. Riggs Asset Managment Co. Inc. boosted its holdings in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares during the period. Finally, Covestor Ltd boosted its holdings 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.

GE Vernova Trading Down 1.5 %

Shares of NYSE GEV opened at $288.90 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market cap of $79.71 billion and a P/E ratio of 51.96. The stock has a fifty day moving average price of $360.05 and a 200 day moving average price of $309.70.

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

GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GEV shares. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Morgan Stanley lifted their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial lifted their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $347.83.

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.