Candriam S.C.A. Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Candriam S.C.A. grew its position in GE Vernova Inc. (NYSE:GEV) by 3,543.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,447 shares of the company’s stock after acquiring an additional 104,498 shares during the quarter. Candriam S.C.A.’s holdings in GE Vernova were worth $35,343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 worth $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC lifted its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Covestor Ltd lifted its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova during the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted its position 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 in the last quarter.

GE Vernova Stock Up 1.3 %

Shares of NYSE:GEV opened at $317.17 on Thursday. The company’s fifty day moving average is $361.95 and its two-hundred day moving average is $308.22. 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 $87.51 billion and a P/E ratio of 57.04.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised 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. Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.