MassMutual Private Wealth & Trust FSB Purchases 39 Shares of GE Vernova Inc. (NYSE:GEV)

MassMutual Private Wealth & Trust FSB grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,133 shares of the company’s stock after buying an additional 39 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in GE Vernova were worth $373,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Legal & General Group Plc purchased a new stake in GE Vernova in the second quarter worth $293,699,000. Electron Capital Partners LLC lifted its stake in GE Vernova by 1,641.3% in the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after acquiring an additional 1,596,996 shares during the period. Lone Pine Capital LLC purchased a new position in GE Vernova during the 2nd quarter valued at $253,322,000. Finally, International Assets Investment Management LLC increased its position in GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after purchasing an additional 1,431,729 shares during the period.

GE Vernova Trading Up 2.6 %

Shares of GEV opened at $426.84 on Thursday. The firm has a fifty day simple moving average of $347.50 and a two-hundred day simple moving average of $268.31. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $434.10.

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). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.23%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GEV shares. Guggenheim reduced their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Citigroup lifted their price target on GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group boosted their target price on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $326.85.

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.