Aigen Investment Management LP Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Aigen Investment Management LP bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,727 shares of the company's stock, valued at approximately $568,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its stake in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock valued at $185,459,000 after acquiring an additional 66,455 shares during the period. Register Financial Advisors LLC bought a new stake in GE Vernova in the fourth quarter valued at about $206,000. Atria Investments Inc increased its stake in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company's stock valued at $1,297,000 after acquiring an additional 2,847 shares during the period. GPS Wealth Strategies Group LLC increased its stake in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after acquiring an additional 822 shares during the period. Finally, Assetmark Inc. increased its stake in GE Vernova by 1,280.4% in the third quarter. Assetmark Inc. now owns 7,689 shares of the company's stock valued at $1,961,000 after acquiring an additional 7,132 shares during the period.

GE Vernova Price Performance

GEV traded down $4.32 during mid-day trading on Friday, hitting $288.90. The stock had a trading volume of 7,396,699 shares, compared to its average volume of 4,199,504. The stock's fifty day simple moving average is $360.05 and its 200-day simple moving average is $310.59. The firm has a market capitalization of $79.71 billion and a price-to-earnings ratio of 51.96. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

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GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company's revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio is 17.99%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial upped their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price objective on the stock. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an "outperform" rating and a $448.00 price objective on the stock. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $347.83.

GE Vernova 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.