New England Research & Management Inc. Purchases Shares of 725 GE Vernova Inc. (NYSE:GEV)

New England Research & Management Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 725 shares of the company’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its stake in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. State Street Corp raised its stake in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $2,507,296,000. Geode Capital Management LLC raised its stake in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, WCM Investment Management LLC increased its position in shares of GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter.

GE Vernova Trading Down 0.4 %

Shares of GEV stock opened at $353.65 on Thursday. The stock has a market cap of $97.48 billion and a P/E ratio of 63.61. The stock has a 50 day simple moving average of $353.77 and a 200 day simple moving average of $275.94. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last issued 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 company had revenue of $10.56 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

Analysts Set New Price Targets

A number of analysts recently issued reports on GEV shares. Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. BMO Capital Markets lifted their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

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.