Convergence Investment Partners LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,150 shares of the company's stock, valued at approximately $1,365,000.
A number of other large investors also recently made changes to their positions in GEV. Howard Capital Management Group LLC bought a new position in GE Vernova during the 3rd quarter worth $213,000. Stratos Wealth Advisors LLC bought a new position in GE Vernova during the 3rd quarter worth $305,000. Castleview Partners LLC bought a new position in GE Vernova during the 3rd quarter worth $28,000. Whittier Trust Co. increased its stake in GE Vernova by 1.9% during the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company's stock worth $537,000 after acquiring an additional 40 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in GE Vernova by 30.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,708 shares of the company's stock worth $5,280,000 after acquiring an additional 4,823 shares during the period.
Analyst Upgrades and Downgrades
A number of research firms have commented on GEV. TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective on the stock. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $350.13.
Read Our Latest Research Report on GE Vernova
GE Vernova Trading Down 8.5 %
GE Vernova stock traded down $30.47 during midday trading on Friday, reaching $329.21. The stock had a trading volume of 5,192,653 shares, compared to its average volume of 3,667,756. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $90.83 billion and a P/E ratio of 59.29. The company has a fifty day moving average price of $364.50 and a two-hundred day moving average price of $298.16.
GE Vernova (NYSE:GEV - Get Free Report) last issued its 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). 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 during the quarter, compared to the consensus estimate of $10.70 billion. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. GE Vernova's dividend payout ratio (DPR) is currently 17.99%.
GE Vernova declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.
About GE Vernova
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Free Report)
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.
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