Chung Wu Investment Group LLC Makes New $558,000 Investment in GE Vernova Inc. (NYSE:GEV)

Chung Wu Investment Group LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,696 shares of the company's stock, valued at approximately $558,000.

A number of other large investors have also made changes to their positions in GEV. Vestmark Advisory Solutions Inc. bought a new position in GE Vernova in the fourth quarter worth $253,000. Freestone Capital Holdings LLC raised its position in GE Vernova by 9.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 3,063 shares of the company's stock valued at $1,008,000 after purchasing an additional 255 shares during the last quarter. Lindbrook Capital LLC grew its holdings in GE Vernova by 2.4% during the 4th quarter. Lindbrook Capital LLC now owns 1,768 shares of the company's stock worth $582,000 after acquiring an additional 42 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $219,187,000. Finally, Vision Financial Markets LLC bought a new position in GE Vernova in the fourth quarter valued at about $88,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target on the stock. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. BMO Capital Markets lowered their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Finally, Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $347.83.

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GE Vernova Trading Down 1.5 %

GEV traded down $4.32 during trading on Friday, reaching $288.90. 7,396,699 shares of the company's stock were exchanged, compared to its average volume of 4,199,504. The firm has a fifty day moving average price of $360.05 and a two-hundred day moving average price of $310.59. The stock has a market capitalization of $79.71 billion and a PE ratio of 51.96. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders 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 yield of 0.35%. GE Vernova's payout ratio is currently 17.99%.

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.