Summit Trail Advisors LLC Has $1.48 Million Stake in GE Vernova Inc. (NYSE:GEV)

Summit Trail Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 20.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,504 shares of the company’s stock after purchasing an additional 765 shares during the period. Summit Trail Advisors LLC’s holdings in GE Vernova were worth $1,483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEV. CWM LLC increased its holdings in GE Vernova by 24.2% during the 3rd quarter. CWM LLC now owns 11,037 shares of the company’s stock valued at $2,814,000 after purchasing an additional 2,149 shares in the last quarter. Annex Advisory Services LLC acquired a new stake in GE Vernova during the 3rd quarter valued at $253,000. Carnegie Investment Counsel increased its holdings in GE Vernova by 172.4% during the 3rd quarter. Carnegie Investment Counsel now owns 19,157 shares of the company’s stock valued at $4,885,000 after purchasing an additional 12,125 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in GE Vernova by 628.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock valued at $970,000 after purchasing an additional 3,281 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in GE Vernova by 86.8% during the 3rd quarter. CHICAGO TRUST Co NA now owns 2,653 shares of the company’s stock valued at $676,000 after purchasing an additional 1,233 shares in the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $384.71 on Tuesday. The firm has a market cap of $106.04 billion and a price-to-earnings ratio of 69.19. The stock’s 50-day moving average is $358.59 and its 200-day moving average is $287.18. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

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.