Mutual of America Capital Management LLC Has $12.29 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Mutual of America Capital Management LLC cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,354 shares of the company’s stock after selling 2,259 shares during the quarter. Mutual of America Capital Management LLC’s holdings in GE Vernova were worth $12,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Howard Capital Management Group LLC purchased a new stake in shares of GE Vernova in the third quarter valued at $213,000. Diversify Wealth Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth about $308,000. US Bancorp DE boosted its position in GE Vernova by 7.6% during the 3rd quarter. US Bancorp DE now owns 91,135 shares of the company’s stock worth $23,238,000 after acquiring an additional 6,418 shares during the period. Stephens Inc. AR grew its stake in GE Vernova by 5.4% during the 3rd quarter. Stephens Inc. AR now owns 7,650 shares of the company’s stock valued at $1,951,000 after acquiring an additional 389 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in shares of GE Vernova by 2.0% in the 3rd quarter. Capital Advisors Inc. OK now owns 212,381 shares of the company’s stock valued at $54,153,000 after purchasing an additional 4,238 shares during the period.

Analysts Set New Price Targets

Several analysts recently commented on GEV shares. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Jefferies Financial Group lifted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Bank of America boosted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Up 2.9 %

Shares of NYSE:GEV opened at $335.80 on Friday. The company has a market cap of $92.65 billion and a price-to-earnings ratio of 60.40. The business has a 50 day moving average price of $363.85 and a 200 day moving average price of $305.51. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last posted 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes 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 board believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova’s 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.