Tribune Investment Group LP Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Tribune Investment Group LP acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $9,868,000. GE Vernova accounts for 5.5% of Tribune Investment Group LP’s portfolio, making the stock its 5th largest position.

Other large investors also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in GE Vernova during the fourth quarter worth about $206,000. GPS Wealth Strategies Group LLC increased its holdings in shares of GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after buying an additional 822 shares during the last quarter. Yarbrough Capital LLC raised its position in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after buying an additional 1,160 shares during the period. Legacy Bridge LLC lifted its holdings in GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after acquiring an additional 4,776 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after acquiring an additional 1,408 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEV. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating on the stock. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group increased their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $348.80.

GE Vernova Price Performance

GEV opened at $320.99 on Monday. GE Vernova Inc. has a 12 month low of $128.25 and a 12 month high of $447.50. The stock has a market capitalization of $87.74 billion and a P/E ratio of 57.73. The business has a 50 day simple moving average of $326.73 and a 200-day simple moving average of $328.18.

GE Vernova (NYSE:GEV) last issued its 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). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. 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.