4,150 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,150 shares of the company’s stock, valued at approximately $1,365,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. FMR LLC increased its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp grew its position in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new position in GE Vernova in the third quarter valued at about $2,507,296,000. Geode Capital Management LLC increased its holdings in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the period.

GE Vernova Stock Up 0.4 %

Shares of NYSE GEV opened at $374.87 on Thursday. The business has a 50 day moving average price of $363.90 and a two-hundred day moving average price of $297.73. The firm has a market cap of $103.43 billion and a PE ratio of 67.42. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a report on Friday, January 24th. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating 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 report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.