Longbow Finance SA Makes New $8.96 Million Investment in GE Vernova Inc. (NYSE:GEV)

Longbow Finance SA bought a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,251 shares of the company’s stock, valued at approximately $8,964,000.

A number of other hedge funds have also added to or reduced their stakes in GEV. Mountaineer Partners Management LLC bought a new stake in GE Vernova in the third quarter worth approximately $2,507,296,000. WCM Investment Management LLC increased its holdings in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter. FMR LLC increased its holdings in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after purchasing an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $315.74 on Tuesday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The business’s fifty day moving average price is $363.97 and its 200-day moving average price is $302.17. The stock has a market capitalization of $87.11 billion and a PE ratio of 56.79.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. GE Vernova’s payout ratio is 17.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GEV shares. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. JPMorgan Chase & Co. boosted 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. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. BMO Capital Markets boosted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upped their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.