GE Vernova Inc. (NYSE:GEV) Shares Bought by Quaero Capital S.A.

Quaero Capital S.A. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 70.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,601 shares of the company’s stock after buying an additional 2,732 shares during the quarter. GE Vernova comprises about 2.8% of Quaero Capital S.A.’s investment portfolio, making the stock its 8th biggest position. Quaero Capital S.A.’s holdings in GE Vernova were worth $2,171,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC lifted its stake in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Asset Planning Inc acquired a new stake in GE Vernova in the 4th quarter worth about $35,000. Castleview Partners LLC acquired a new stake in GE Vernova in the 3rd quarter worth about $28,000. Finally, Riggs Asset Managment Co. Inc. raised its stake in GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter.

GE Vernova Price Performance

GEV opened at $367.43 on Friday. The company’s 50 day moving average price is $361.32 and its two-hundred day moving average price is $291.28. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market capitalization of $101.28 billion and a price-to-earnings ratio of 66.08.

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). 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 the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Truist Financial lifted their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target 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.