Asset Management One Co. Ltd. Increases Stake in GE Vernova Inc. (NYSE:GEV)

Asset Management One Co. Ltd. grew its stake in GE Vernova Inc. (NYSE:GEV) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 109,824 shares of the company’s stock after buying an additional 7,970 shares during the quarter. Asset Management One Co. Ltd.’s holdings in GE Vernova were worth $36,659,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth about $28,000. Riggs Asset Managment Co. Inc. raised its position in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after acquiring an additional 57 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEV. Barclays lifted their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Down 0.8 %

NYSE GEV opened at $367.43 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. The business has a fifty day moving average of $361.32 and a 200-day moving average of $291.28.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.