Metis Global Partners LLC Purchases 405 Shares of GE Vernova Inc. (NYSE:GEV)

Metis Global Partners LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,883 shares of the company’s stock after acquiring an additional 405 shares during the period. Metis Global Partners LLC’s holdings in GE Vernova were worth $3,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% in the fourth 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. Covestor Ltd grew its position in GE Vernova by 61.3% in the third 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. Darwin Wealth Management LLC purchased a new position in GE Vernova in the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC grew its position in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEV. BMO Capital Markets upped their target price on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Price Performance

GEV stock opened at $335.80 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market cap of $92.65 billion and a P/E ratio of 60.40. The firm has a 50-day moving average of $363.85 and a 200 day moving average of $305.51.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 the consensus estimate of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is 17.99%.

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.