CKW Financial Group Purchases 102 Shares of GE Vernova Inc. (NYSE:GEV)

CKW Financial Group raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 58.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276 shares of the company’s stock after acquiring an additional 102 shares during the period. CKW Financial Group’s holdings in GE Vernova were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Mountaineer Partners Management LLC purchased a new position in GE Vernova in the 3rd quarter worth about $2,507,296,000. Legal & General Group Plc purchased a new position in GE Vernova in the 2nd quarter worth about $293,699,000. International Assets Investment Management LLC increased its stake in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after buying an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its stake in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in GE Vernova by 4,735.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock worth $124,388,000 after buying an additional 710,250 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI raised their price target 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. Truist Financial raised their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday. The Goldman Sachs Group increased 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. Finally, Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. 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 MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 4.2 %

GEV stock opened at $419.27 on Monday. The firm has a 50 day moving average of $353.38 and a 200 day moving average of $273.64. The stock has a market capitalization of $115.57 billion and a PE ratio of 75.41. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during 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 was up 5.1% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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.