6,213 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Donoghue Forlines LLC

Donoghue Forlines LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 6,213 shares of the company’s stock, valued at approximately $2,044,000. GE Vernova makes up 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 29th largest position.

A number of other hedge funds have also made changes to their positions in GEV. Waverton Investment Management Ltd boosted its position in GE Vernova by 10.0% during the third 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. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $1,101,000. Atria Investments Inc lifted its position in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after buying an additional 2,847 shares in the last quarter. Fractal Investments LLC purchased a new position in GE Vernova during the third quarter worth approximately $1,530,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova in the 2nd quarter valued at $293,699,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GEV shares. 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 report on Thursday. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their price target on GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $335.40.

GE Vernova Price Performance

Shares of GEV stock opened at $427.56 on Thursday. The stock has a 50 day simple moving average of $349.37 and a 200-day simple moving average of $269.42. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $434.10.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 1.96 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, December 20th.

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

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.