GE Vernova Inc. (NYSE:GEV) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,217 shares of the company’s stock after selling 194 shares during the quarter. Thompson Investment Management Inc.’s holdings in GE Vernova were worth $2,045,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. International Assets Investment Management LLC increased its holdings in shares of GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after purchasing an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter. FMR LLC increased its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after purchasing an additional 460,834 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 target price for the company. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Citigroup raised their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Stock Up 0.8 %

Shares of GEV stock opened at $377.99 on Friday. The stock has a market capitalization of $104.19 billion and a PE ratio of 67.98. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock’s 50-day moving average price is $358.59 and its 200 day moving average price is $285.51.

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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign 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.