Fisher Asset Management LLC Buys 557 Shares of GE Vernova Inc. (NYSE:GEV)

Fisher Asset Management LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 20.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,237 shares of the company’s stock after purchasing an additional 557 shares during the period. Fisher Asset Management LLC’s holdings in GE Vernova were worth $1,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC bought a new position in GE Vernova during the fourth quarter worth about $1,170,000. Tower Bridge Advisors bought a new position in GE Vernova during the fourth quarter worth about $214,000. Pettyjohn Wood & White Inc. bought a new position in GE Vernova during the fourth quarter worth about $225,000. QRG Capital Management Inc. lifted its holdings in GE Vernova by 20.1% during the fourth quarter. QRG Capital Management Inc. now owns 42,393 shares of the company’s stock worth $13,944,000 after acquiring an additional 7,094 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its holdings in GE Vernova by 9.9% during the fourth quarter. First Command Advisory Services Inc. now owns 500 shares of the company’s stock worth $164,000 after acquiring an additional 45 shares in the last quarter.

GE Vernova Stock Up 1.3 %

Shares of NYSE GEV opened at $317.17 on Thursday. The business’s 50 day moving average price is $361.95 and its two-hundred day moving average price is $308.22. The company has a market cap of $87.51 billion and a PE ratio of 57.04. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for 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%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

Several research analysts have weighed in on GEV shares. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $347.83.

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.