Trust Point Inc. Purchases 264 Shares of GE Vernova Inc. (NYSE:GEV)

Trust Point Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 16.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,852 shares of the company’s stock after acquiring an additional 264 shares during the quarter. Trust Point Inc.’s holdings in GE Vernova were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Childress Capital Advisors LLC boosted its holdings in shares of GE Vernova by 31.9% during the 4th quarter. Childress Capital Advisors LLC now owns 1,165 shares of the company’s stock worth $383,000 after buying an additional 282 shares during the period. Fourpath Capital Management LLC grew its stake in shares of GE Vernova by 10.1% in the fourth quarter. Fourpath Capital Management LLC now owns 612 shares of the company’s stock valued at $201,000 after acquiring an additional 56 shares in the last quarter. Optas LLC raised its stake in GE Vernova by 2.7% in the 4th quarter. Optas LLC now owns 1,959 shares of the company’s stock worth $644,000 after purchasing an additional 51 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in 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. Finally, Jennison Associates LLC grew its position in shares of GE Vernova by 252.8% during the 4th quarter. Jennison Associates LLC now owns 36,327 shares of the company’s stock worth $11,949,000 after purchasing an additional 26,029 shares in the last quarter.

GE Vernova Trading Down 1.4 %

Shares of GEV opened at $356.62 on Wednesday. The stock’s 50-day moving average price is $355.93 and its two-hundred day moving average price is $281.46. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $98.30 billion and a PE ratio of 64.14.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during 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 quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy 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 stock is undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GEV. Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Barclays lifted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, 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 note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.