Hardy Reed LLC Buys 3,200 Shares of GE Vernova Inc. (NYSE:GEV)

Hardy Reed LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 111.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,076 shares of the company's stock after buying an additional 3,200 shares during the quarter. Hardy Reed LLC's holdings in GE Vernova were worth $1,999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Waverton Investment Management Ltd raised its holdings in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company's stock worth $185,459,000 after purchasing an additional 66,455 shares during the period. Register Financial Advisors LLC acquired a new stake in GE Vernova during the 4th quarter worth $206,000. Hanlon Investment Management Inc. bought a new position in GE Vernova during the third quarter worth about $1,101,000. Atria Investments Inc grew its stake in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company's stock valued at $1,297,000 after acquiring an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its position in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after purchasing an additional 822 shares during the period.

GE Vernova Price Performance

GEV stock traded down $32.00 during midday trading on Friday, reaching $327.68. 6,337,561 shares of the company were exchanged, compared to its average volume of 3,686,574. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The firm has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The business has a 50-day moving average price of $364.50 and a two-hundred day moving average price of $298.16.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has initiated 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 purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Barclays boosted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. BMO Capital Markets increased their target price on GE Vernova from $360.00 to $420.00 and gave the stock an "outperform" rating in a report on Tuesday, January 21st. Finally, Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $350.13.

About GE Vernova

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.