Members Trust Co Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Members Trust Co bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 727 shares of the company's stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp increased its holdings in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter worth about $2,507,296,000. Geode Capital Management LLC increased its holdings in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock worth $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings 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 buying an additional 1,161,901 shares during the last quarter.

GE Vernova Stock Performance

GEV traded up $5.00 on Tuesday, reaching $372.59. The company had a trading volume of 2,405,847 shares, compared to its average volume of 3,694,381. The business has a 50 day simple moving average of $362.38 and a 200 day simple moving average of $295.72. The company has a market cap of $102.70 billion and a price-to-earnings ratio of 67.01. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

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

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Truist Financial increased their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.