Wendell David Associates Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 618 shares of the company's stock, valued at approximately $203,000.
Other hedge funds have also recently made changes to their positions in the company. Castleview Partners LLC purchased a new stake in GE Vernova during the third quarter valued at approximately $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp grew its stake in GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company's stock worth $36,000 after buying an additional 130 shares during the last quarter.
GEV has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They issued a "buy" rating and a $354.00 price target for the company. Barclays lifted their target price on shares of GE Vernova from $320.00 to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Royal Bank of Canada restated an "outperform" rating and set a $376.00 price target on shares of GE Vernova in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 14th. Finally, Raymond James downgraded GE Vernova from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $326.85.
View Our Latest Stock Report on GEV
NYSE:GEV opened at $426.84 on Thursday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $434.10. The stock's 50-day moving average price is $347.50 and its 200-day moving average price is $268.31.
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 the consensus estimate 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 3.67% and a return on equity of 4.22%. GE Vernova's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.
GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
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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