Pineridge Advisors LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Pineridge Advisors LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 530.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82 shares of the company’s stock after purchasing an additional 69 shares during the period. Pineridge Advisors LLC’s holdings in GE Vernova were worth $27,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. FMR LLC lifted its holdings in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares in the last quarter. State Street Corp increased its position in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the third quarter worth about $2,507,296,000. Geode Capital Management LLC boosted its holdings in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in 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.

Wall Street Analyst Weigh In

GEV has been the topic of several analyst reports. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Citigroup lifted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research note on Friday, January 24th. The Goldman Sachs Group boosted their target price 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. Finally, Wells Fargo & Company increased their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $346.22.

GE Vernova Trading Up 1.8 %

GEV opened at $384.71 on Tuesday. The business’s 50 day moving average is $358.59 and its 200-day moving average is $287.18. The stock has a market cap of $106.04 billion and a PE ratio of 69.19. GE Vernova Inc. has a twelve month low of $115.00 and a twelve 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 for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 dividend on an annualized basis and a yield of 0.26%. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs 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.