O Neil Global Advisors Inc. Acquires Shares of 6,276 GE Vernova Inc. (NYSE:GEV)

O Neil Global Advisors Inc. acquired 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,276 shares of the company's stock, valued at approximately $2,064,000. GE Vernova comprises about 0.6% of O Neil Global Advisors Inc.'s portfolio, making the stock its 15th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its holdings in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after acquiring an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its stake in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after buying an additional 30 shares during the period. Mutual Advisors LLC raised its stake in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after buying an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after buying an additional 31 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group raised their price target on GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Trading Down 8.9 %

Shares of NYSE GEV traded down $32.00 during midday trading on Friday, reaching $327.68. The company's stock had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. The stock has a 50 day simple moving average of $364.50 and a 200-day simple moving average of $298.16. The stock has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio is 17.99%.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase 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 shares are undervalued.

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.