Darden Wealth Group Inc Buys Shares of 1,156 GE Vernova Inc. (NYSE:GEV)

Darden Wealth Group Inc purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,156 shares of the company's stock, valued at approximately $380,000.

Several other hedge funds have also made changes to their positions in GEV. Russell Investments Group Ltd. raised its stake in shares of GE Vernova by 98.8% in the fourth quarter. Russell Investments Group Ltd. now owns 222,767 shares of the company's stock valued at $73,277,000 after acquiring an additional 110,716 shares in the last quarter. Envestnet Asset Management Inc. raised its position in GE Vernova by 1.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 410,503 shares of the company's stock valued at $135,027,000 after purchasing an additional 7,662 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of GE Vernova during the fourth quarter worth about $69,000. KCM Investment Advisors LLC increased its stake in shares of GE Vernova by 63.2% during the fourth quarter. KCM Investment Advisors LLC now owns 1,420 shares of the company's stock worth $467,000 after buying an additional 550 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in GE Vernova in the fourth quarter valued at approximately $26,198,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GEV shares. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Robert W. Baird started coverage on GE Vernova in a report on Thursday, February 13th. They issued an "outperform" rating and a $448.00 target price for the company. Finally, Barclays decreased their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued 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 $349.20.

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GE Vernova Stock Up 2.0 %

Shares of GEV traded up $5.80 during trading on Wednesday, reaching $292.69. The company's stock had a trading volume of 1,698,625 shares, compared to its average volume of 3,433,697. GE Vernova Inc. has a twelve month low of $128.25 and a twelve month high of $447.50. The company has a market cap of $80.01 billion and a price-to-earnings ratio of 52.37. The company has a fifty day moving average of $330.48 and a two-hundred day moving average of $326.28.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.34%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is 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.