Mill Creek Capital Advisors LLC Invests $263,000 in GE Vernova Inc. (NYSE:GEV)

Mill Creek Capital Advisors LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 800 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in shares of GE Vernova by 628.5% in the third quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock valued at $970,000 after buying an additional 3,281 shares in the last quarter. Concourse Financial Group Securities Inc. grew its stake in GE Vernova by 75.6% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock valued at $1,264,000 after acquiring an additional 2,134 shares during the period. Koshinski Asset Management Inc. increased its holdings in GE Vernova by 100.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,759 shares of the company’s stock worth $703,000 after acquiring an additional 1,383 shares in the last quarter. Sound Income Strategies LLC increased its holdings in GE Vernova by 59.3% in the 3rd quarter. Sound Income Strategies LLC now owns 427 shares of the company’s stock worth $109,000 after acquiring an additional 159 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its position in GE Vernova by 5.8% during the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock worth $3,757,000 after acquiring an additional 802 shares during the period.

GE Vernova Trading Down 3.1 %

Shares of GEV stock opened at $373.13 on Wednesday. The company has a market cap of $102.95 billion and a P/E ratio of 67.11. The firm has a fifty day moving average price of $359.53 and a 200 day moving average price of $288.77. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 4.44% and a return on equity of 6.70%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on GEV. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Johnson Rice began coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $346.22.

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.