Smartleaf Asset Management LLC Has $672,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Smartleaf Asset Management LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 47.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,035 shares of the company’s stock after buying an additional 658 shares during the period. Smartleaf Asset Management LLC’s holdings in GE Vernova were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Howard Capital Management Group LLC acquired a new stake in shares of GE Vernova in the third quarter worth about $213,000. Stephens Inc. AR lifted its position in shares of GE Vernova by 5.4% in the third quarter. Stephens Inc. AR now owns 7,650 shares of the company’s stock worth $1,951,000 after buying an additional 389 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of GE Vernova by 16.6% in the third quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company’s stock worth $9,789,000 after buying an additional 5,472 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of GE Vernova by 40.4% in the third quarter. Harbor Capital Advisors Inc. now owns 7,402 shares of the company’s stock worth $1,887,000 after buying an additional 2,131 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of GE Vernova by 3.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 76,832 shares of the company’s stock worth $19,591,000 after buying an additional 2,377 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $347.83.

GE Vernova Stock Down 6.0 %

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

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm 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. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.32%. GE Vernova’s payout ratio is 17.99%.

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.