Calamos Advisors LLC Acquires 13,025 Shares of GE Vernova Inc. (NYSE:GEV)

Calamos Advisors LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,072 shares of the company’s stock after buying an additional 13,025 shares during the quarter. Calamos Advisors LLC’s holdings in GE Vernova were worth $30,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $28,000. Covestor Ltd boosted its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC boosted its stake in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent research reports. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $361.01 on Tuesday. The firm has a 50 day simple moving average of $355.29 and a 200 day simple moving average of $280.05. The company has a market cap of $99.51 billion and a price-to-earnings ratio of 64.93. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova announced that its board has authorized 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders 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 dividend on an annualized basis and a yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.