New England Research & Management Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 725 shares of the company's stock, valued at approximately $238,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Milestone Asset Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $249,000. Ibex Wealth Advisors purchased a new position in GE Vernova in the 4th quarter worth about $1,678,000. Swedbank AB lifted its stake in GE Vernova by 280.2% during the 4th quarter. Swedbank AB now owns 137,687 shares of the company's stock valued at $45,289,000 after acquiring an additional 101,473 shares during the period. Field & Main Bank boosted its holdings in shares of GE Vernova by 43.3% during the 4th quarter. Field & Main Bank now owns 2,285 shares of the company's stock valued at $752,000 after acquiring an additional 690 shares during the last quarter. Finally, Strategic Blueprint LLC raised its holdings in shares of GE Vernova by 17.8% during the fourth quarter. Strategic Blueprint LLC now owns 1,166 shares of the company's stock valued at $384,000 after purchasing an additional 176 shares during the last quarter.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GEV. Bank of America increased 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. Barclays raised their target price on GE Vernova from $420.00 to $487.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Jefferies Financial Group upped their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research report on Friday, December 13th. William Blair reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $342.94.
Read Our Latest Stock Analysis on GEV
GE Vernova Price Performance
Shares of GEV stock traded up $31.82 during mid-day trading on Thursday, hitting $385.07. 4,119,060 shares of the stock traded hands, compared to its average volume of 4,260,923. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a market cap of $106.15 billion and a P/E ratio of 69.00. The stock's fifty day moving average is $353.99 and its two-hundred day moving average is $276.49.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.
GE Vernova Dividend Announcement
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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.
GE Vernova declared that its board has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
GE Vernova Company Profile
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Free Report)
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.
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