Brighton Jones LLC Purchases 753 Shares of GE Vernova Inc. (NYSE:GEV)

Brighton Jones LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 29.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,315 shares of the company’s stock after buying an additional 753 shares during the quarter. Brighton Jones LLC’s holdings in GE Vernova were worth $1,091,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of 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. State Street Corp lifted its position in GE Vernova by 1.1% during the 3rd 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 in the last quarter. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter worth about $2,507,296,000. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of 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 acquiring an additional 1,161,901 shares in the last quarter.

GE Vernova Stock Down 4.2 %

GEV opened at $419.27 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $115.57 billion and a price-to-earnings ratio of 75.41. The company has a 50-day simple moving average of $351.59 and a 200 day simple moving average of $270.59.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for 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 company’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

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

Analyst Ratings Changes

GEV has been the subject of several recent research reports. TD Cowen began coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

GE Vernova 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.