Exchange Traded Concepts LLC Has $4.52 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Exchange Traded Concepts LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 261.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,731 shares of the company’s stock after purchasing an additional 9,928 shares during the period. Exchange Traded Concepts LLC’s holdings in GE Vernova were worth $4,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional raised its holdings in shares of GE Vernova by 20.7% during the 4th quarter. CX Institutional now owns 1,858 shares of the company’s stock worth $611,000 after buying an additional 319 shares in the last quarter. Sound Income Strategies LLC increased its position in GE Vernova by 13.3% during the 4th quarter. Sound Income Strategies LLC now owns 484 shares of the company’s stock worth $159,000 after purchasing an additional 57 shares in the last quarter. LexAurum Advisors LLC lifted its stake in GE Vernova by 38.6% in the 4th quarter. LexAurum Advisors LLC now owns 1,120 shares of the company’s stock valued at $368,000 after purchasing an additional 312 shares during the last quarter. RFG Advisory LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $219,000. Finally, Brighton Jones LLC grew its stake in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the last quarter.

GE Vernova Stock Down 4.2 %

GE Vernova stock opened at $419.27 on Friday. The company has a market capitalization of $115.57 billion and a PE ratio of 75.41. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The firm’s fifty day moving average is $351.59 and its 200 day moving average is $270.59.

GE Vernova (NYSE:GEV) last announced 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). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

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

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.24%. GE Vernova’s payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GEV. The Goldman Sachs Group increased their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.73.

GE Vernova Company 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.