751 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Capital Investment Counsel Inc

Capital Investment Counsel Inc purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 751 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds also recently modified their holdings of GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. International Assets Investment Management LLC increased its position in shares of GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company's stock valued at $366,098,000 after purchasing an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its position in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock valued at $639,704,000 after purchasing an additional 1,161,901 shares during the period. FMR LLC increased its position in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock worth $462,073,000 after acquiring an additional 460,834 shares in the last quarter.

GE Vernova Price Performance

GEV traded down $32.00 during trading on Friday, reaching $327.68. 6,959,273 shares of the stock traded hands, compared to its average volume of 3,723,897. The stock has a market cap 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. The stock's 50-day simple moving average is $364.50 and its two-hundred day simple moving average is $298.16.

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 net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is currently 17.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Morgan Stanley raised their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Citigroup raised their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird assumed coverage on GE Vernova in a research note on Thursday, February 13th. They set an "outperform" rating and a $448.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.13.

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.