Curbstone Financial Management Corp Makes New $439,000 Investment in GE Vernova Inc. (NYSE:GEV)

Curbstone Financial Management Corp acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,336 shares of the company’s stock, valued at approximately $439,000.

Other hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its position in 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 acquiring an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $29,000. Covestor Ltd increased its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $31,000.

GE Vernova Trading Down 21.6 %

GEV stock opened at $329.63 on Tuesday. The company has a market capitalization of $90.86 billion and a P/E ratio of 59.29. The business has a 50 day simple moving average of $353.38 and a 200-day simple moving average of $273.64. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last posted 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GEV shares. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Jefferies Financial Group upped their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $339.73.

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.