Robeco Institutional Asset Management B.V. Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Robeco Institutional Asset Management B.V. raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,880 shares of the company’s stock after acquiring an additional 6,048 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in GE Vernova were worth $27,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Creative Planning bought a new stake in GE Vernova during the second quarter valued at about $8,105,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $2,511,000. NewEdge Advisors LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth approximately $1,851,000. Sunbelt Securities Inc. bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $46,000. Finally, Quarry LP acquired a new stake in GE Vernova in the second quarter valued at approximately $88,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday. Truist Financial increased their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Price Performance

Shares of NYSE GEV opened at $382.73 on Friday. The stock has a market capitalization of $105.50 billion and a price-to-earnings ratio of 68.84. The firm’s 50 day simple moving average is $353.99 and its 200-day simple moving average is $276.49. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued 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 payout ratio is 17.99%.

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.