Mediolanum International Funds Ltd Takes Position in GE Vernova Inc. (NYSE:GEV)

Mediolanum International Funds Ltd acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,920 shares of the company's stock, valued at approximately $1,621,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. International Assets Investment Management LLC grew its position in GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company's stock worth $366,098,000 after acquiring an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its stake in GE Vernova by 83.1% during the third 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 last quarter. FMR LLC grew its holdings 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 worth $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 increased its position 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 purchasing an additional 460,834 shares during the last quarter.

GE Vernova Trading Up 3.1 %

Shares of NYSE:GEV traded up $10.90 during trading on Wednesday, hitting $367.43. 2,781,268 shares of the stock were exchanged, compared to its average volume of 4,191,815. The company has a market cap of $101.28 billion and a PE ratio of 66.08. The company has a fifty day moving average price of $356.29 and a two-hundred day moving average price of $282.82. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GEV shares. Barclays boosted their target price on GE Vernova from $420.00 to $487.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Evercore ISI raised their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $342.94.

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.