Hager Investment Management Services LLC Acquires Shares of 820 GE Vernova Inc. (NYSE:GEV)

Hager Investment Management Services LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 820 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stratos Wealth Advisors LLC increased its stake in shares of GE Vernova by 12.2% in the fourth quarter. Stratos Wealth Advisors LLC now owns 1,343 shares of the company’s stock valued at $442,000 after buying an additional 146 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of GE Vernova by 7.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,494 shares of the company’s stock valued at $2,136,000 after buying an additional 460 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of GE Vernova by 176.2% in the fourth quarter. Retirement Systems of Alabama now owns 170,957 shares of the company’s stock valued at $56,233,000 after buying an additional 109,063 shares in the last quarter. Sargent Investment Group LLC increased its stake in shares of GE Vernova by 8.2% in the fourth quarter. Sargent Investment Group LLC now owns 3,943 shares of the company’s stock valued at $1,297,000 after buying an additional 298 shares in the last quarter. Finally, E. Ohman J or Asset Management AB increased its position in GE Vernova by 12.5% in the fourth quarter. E. Ohman J or Asset Management AB now owns 12,370 shares of the company’s stock worth $4,069,000 after purchasing an additional 1,370 shares during the period.

GE Vernova Trading Down 1.4 %

GEV stock opened at $356.62 on Wednesday. The business’s 50 day simple moving average is $355.93 and its 200 day simple moving average is $281.46. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market capitalization of $98.30 billion and a PE ratio of 64.14.

GE Vernova (NYSE:GEV) last issued 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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is 17.99%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley lifted their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $342.94.

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.