Fairfield Bush & CO. Makes New $647,000 Investment in GE Vernova Inc. (NYSE:GEV)

Fairfield Bush & CO. acquired a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,968 shares of the company’s stock, valued at approximately $647,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during 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. MRP Capital Investments LLC purchased a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC increased its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of GE Vernova during the 4th quarter valued at $30,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GEV shares. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Barclays reduced their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $343.66.

GE Vernova Price Performance

Shares of NYSE GEV opened at $328.92 on Thursday. The business has a 50-day moving average of $323.91 and a 200-day moving average of $328.68. The stock has a market capitalization of $89.91 billion and a price-to-earnings ratio of 59.16. GE Vernova Inc. has a fifty-two week low of $131.25 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova’s dividend payout ratio is currently 17.99%.

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.