Russell Investments Group Ltd. Purchases 110,716 Shares of GE Vernova Inc. (NYSE:GEV)

Russell Investments Group Ltd. boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 98.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,767 shares of the company's stock after purchasing an additional 110,716 shares during the period. Russell Investments Group Ltd. owned about 0.08% of GE Vernova worth $73,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MRP Capital Investments LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares during the period. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares during the period. Finally, Pinpoint Asset Management Ltd acquired a new position in GE Vernova in the fourth quarter valued at about $30,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEV. Jefferies Financial Group lifted their price objective on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Royal Bank of Canada reduced their price objective on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $349.20.

GE Vernova Trading Up 1.6 %

Shares of GEV stock traded up $4.50 during trading on Wednesday, hitting $291.39. The company's stock had a trading volume of 1,698,625 shares, compared to its average volume of 3,433,665. The business has a fifty day moving average of $330.48 and a 200-day moving average of $326.28. The company has a market cap of $79.65 billion and a PE ratio of 52.37. GE Vernova Inc. has a 52 week low of $128.25 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 (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for 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 revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.34%. GE Vernova's dividend payout ratio is presently 17.99%.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

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.