Oakworth Capital Inc. Acquires 105 Shares of GE Vernova Inc. (NYSE:GEV)

Oakworth Capital Inc. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 210.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 155 shares of the company’s stock after purchasing an additional 105 shares during the period. Oakworth Capital Inc.’s holdings in GE Vernova were worth $51,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of GE Vernova in the third quarter worth $28,000. Covestor Ltd increased its holdings in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC boosted its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Wolfe Research initiated coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Trading Up 1.8 %

Shares of NYSE:GEV opened at $374.67 on Friday. The stock has a 50 day moving average of $356.93 and a 200 day moving average of $283.41. The company has a market cap of $103.28 billion and a PE ratio of 67.39. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid 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 0.27%. GE Vernova’s payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock 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 purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.