Marble Harbor Investment Counsel LLC Has $4.98 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Marble Harbor Investment Counsel LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,150 shares of the company’s stock after purchasing an additional 124 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in GE Vernova were worth $4,983,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC increased 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 acquiring an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its holdings 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 purchasing an additional 69 shares during the period. Covestor Ltd increased its stake in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on GEV shares. Robert W. Baird began coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Barclays lowered their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $347.83.

GE Vernova Stock Performance

Shares of GEV stock opened at $288.90 on Friday. The firm has a market cap of $79.71 billion and a price-to-earnings ratio of 51.96. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm’s 50-day simple moving average is $360.05 and its two-hundred day simple moving average is $308.83.

GE Vernova (NYSE:GEV) last posted its quarterly 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). 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. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.