Caprock Group LLC Buys 3,410 Shares of GE Vernova Inc. (NYSE:GEV)

Caprock Group LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 21.8% in the fourth quarter, HoldingsChannel reports. The firm owned 19,062 shares of the company’s stock after acquiring an additional 3,410 shares during the period. Caprock Group LLC’s holdings in GE Vernova were worth $6,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GEV. New Wave Wealth Advisors LLC purchased a new position in shares of GE Vernova in the 4th quarter worth $79,000. CMG Global Holdings LLC lifted its holdings in GE Vernova by 1.7% in the fourth quarter. CMG Global Holdings LLC now owns 7,362 shares of the company’s stock valued at $2,422,000 after acquiring an additional 121 shares during the period. Cibc World Market Inc. boosted its position in GE Vernova by 91.8% in the fourth quarter. Cibc World Market Inc. now owns 60,131 shares of the company’s stock worth $19,779,000 after purchasing an additional 28,786 shares during the last quarter. Clarity Financial LLC grew its stake in shares of GE Vernova by 59.4% during the 4th quarter. Clarity Financial LLC now owns 43,088 shares of the company’s stock valued at $14,173,000 after purchasing an additional 16,050 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $1,621,000.

GE Vernova Price Performance

NYSE GEV opened at $372.70 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The business has a 50 day simple moving average of $354.82 and a two-hundred day simple moving average of $277.23. The stock has a market capitalization of $102.74 billion and a PE ratio of 67.03.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. 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 dividend payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a report on Tuesday. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $342.94.

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.