Fidelis Capital Partners LLC Purchases 811 Shares of GE Vernova Inc. (NYSE:GEV)

Fidelis Capital Partners LLC raised its position in GE Vernova Inc. (NYSE:GEV) by 89.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,718 shares of the company’s stock after purchasing an additional 811 shares during the period. Fidelis Capital Partners LLC’s holdings in GE Vernova were worth $621,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. LGT Group Foundation lifted its holdings in GE Vernova by 9.1% in the fourth quarter. LGT Group Foundation now owns 30,084 shares of the company’s stock valued at $9,896,000 after buying an additional 2,518 shares during the period. Plato Investment Management Ltd raised its position in shares of GE Vernova by 800.6% in the 4th quarter. Plato Investment Management Ltd now owns 11,753 shares of the company’s stock worth $3,880,000 after acquiring an additional 10,448 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of GE Vernova in the 4th quarter valued at about $1,491,000. Jones Financial Companies Lllp lifted its stake in shares of GE Vernova by 93.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,170 shares of the company’s stock valued at $1,701,000 after purchasing an additional 2,494 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in shares of GE Vernova by 12.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,333 shares of the company’s stock valued at $438,000 after purchasing an additional 151 shares in the last quarter.

GE Vernova Trading Down 6.0 %

Shares of GEV opened at $315.19 on Tuesday. The stock has a 50 day moving average of $363.25 and a 200 day moving average of $307.25. The company has a market capitalization of $86.96 billion and a price-to-earnings ratio of 56.69. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

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). The business had revenue of $10.56 billion for 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%. The firm’s 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 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GEV shares. Barclays dropped their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.