Perigon Wealth Management LLC Has $1.54 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Perigon Wealth Management LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 29.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,670 shares of the company's stock after buying an additional 1,074 shares during the period. Perigon Wealth Management LLC's holdings in GE Vernova were worth $1,536,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages recently commented on GEV. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, BMO Capital Markets lifted their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $342.94.

GE Vernova Stock Performance

Shares of GEV stock traded up $29.48 during mid-day trading on Thursday, reaching $382.73. The company's stock had a trading volume of 5,674,233 shares, compared to its average volume of 4,349,397. The firm's 50-day moving average is $353.99 and its two-hundred day moving average is $276.49. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a market cap of $105.50 billion and a P/E ratio of 68.84.

GE Vernova (NYSE:GEV - Get Free Report) last released 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). The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. GE Vernova's dividend payout ratio is presently 17.99%.

GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management 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.