Sumitomo Mitsui DS Asset Management Company Ltd Purchases 550 Shares of GE Vernova Inc. (NYSE:GEV)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,338 shares of the company’s stock after purchasing an additional 550 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GE Vernova were worth $9,979,000 as of its most recent filing with the Securities and Exchange Commission.

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

GE Vernova Price Performance

GEV opened at $377.99 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company’s 50 day moving average price is $357.71 and its two-hundred day moving average price is $284.04. The firm has a market capitalization of $104.19 billion and a price-to-earnings ratio of 67.98.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GEV shares. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. BMO Capital Markets lifted 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. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Johnson Rice began coverage on GE Vernova in a research report on Friday. They issued a “buy” rating and a $425.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $346.22.

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.