Forte Capital LLC ADV Grows Position in GE Vernova Inc. (NYSE:GEV)

Forte Capital LLC ADV raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 237.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,061 shares of the company’s stock after buying an additional 2,155 shares during the quarter. Forte Capital LLC ADV’s holdings in GE Vernova were worth $1,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter valued at about $2,507,296,000. International Assets Investment Management LLC boosted its position in shares of GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after acquiring an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC boosted its position in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GE Vernova by 34.1% during the 3rd 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 acquiring an additional 460,834 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEV. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. BMO Capital Markets upped their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Trading Down 4.2 %

GE Vernova stock opened at $359.57 on Friday. The stock has a market cap of $99.21 billion and a PE ratio of 64.67. The stock has a 50-day moving average price of $364.50 and a 200 day moving average price of $298.16. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.