Dorsey & Whitney Trust CO LLC Raises Holdings in GE Vernova Inc. (NYSE:GEV)

Dorsey & Whitney Trust CO LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,313 shares of the company’s stock after purchasing an additional 154 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in GE Vernova were worth $1,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% in 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 boosted its position in GE Vernova by 530.8% during 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 in the last quarter. Covestor Ltd grew its stake 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 last quarter. Darwin Wealth Management LLC bought a new position in GE Vernova in the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on GEV. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lifted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

GE Vernova Stock Performance

NYSE GEV opened at $288.90 on Monday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock’s fifty day moving average is $360.05 and its two-hundred day moving average is $310.59. The firm has a market capitalization of $79.71 billion and a P/E ratio of 51.96.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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

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.