Chung Wu Investment Group LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Chung Wu Investment Group LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,696 shares of the company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Vestmark Advisory Solutions Inc. bought a new stake in GE Vernova during the 4th quarter valued at $253,000. Freestone Capital Holdings LLC increased its holdings in GE Vernova by 9.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 3,063 shares of the company’s stock valued at $1,008,000 after purchasing an additional 255 shares during the period. Lindbrook Capital LLC lifted its holdings in GE Vernova by 2.4% in the 4th quarter. Lindbrook Capital LLC now owns 1,768 shares of the company’s stock worth $582,000 after buying an additional 42 shares during the period. Raymond James Financial Inc. purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $219,187,000. Finally, Vision Financial Markets LLC bought a new stake in GE Vernova in the fourth quarter valued at $88,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Morgan Stanley increased their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

GE Vernova Stock Up 1.3 %

GEV stock opened at $317.17 on Thursday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market cap of $87.51 billion and a P/E ratio of 57.04. The business’s 50-day moving average price is $361.95 and its 200-day moving average price is $308.22.

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 net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows 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 believes its stock is undervalued.

About GE Vernova

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.