2,699 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,699 shares of the company’s stock, valued at approximately $888,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Waverton Investment Management Ltd grew its holdings in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after acquiring an additional 66,455 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $206,000. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova in the 3rd quarter valued at $1,101,000. Atria Investments Inc increased its stake in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after buying an additional 822 shares during the period.

GE Vernova Stock Performance

GEV opened at $335.15 on Thursday. The company has a market cap of $92.47 billion and a PE ratio of 60.28. The stock has a 50-day moving average of $364.13 and a 200-day moving average of $303.37. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced its 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 for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The company 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 was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. GE Vernova’s payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a report on Friday, January 24th. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, BMO Capital Markets lifted their price target on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.