Forsta AP Fonden Buys 4,800 Shares of GE Vernova Inc. (NYSE:GEV)

Forsta AP Fonden grew its stake in GE Vernova Inc. (NYSE:GEV) by 8.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,931 shares of the company’s stock after purchasing an additional 4,800 shares during the period. Forsta AP Fonden’s holdings in GE Vernova were worth $20,371,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. lifted its stake in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares during the last quarter. Hengehold Capital Management LLC lifted its stake in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC lifted its stake in shares of GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its stake in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 35 shares during the last quarter.

GE Vernova Trading Down 0.4 %

Shares of NYSE:GEV opened at $353.65 on Thursday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The business’s fifty day simple moving average is $353.77 and its 200-day simple moving average is $275.94. The company has a market capitalization of $97.48 billion and a PE ratio of 63.61.

GE Vernova (NYSE:GEV) last announced its 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Raymond James lowered GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, HSBC reaffirmed a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

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.