4,920 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,920 shares of the company’s stock, valued at approximately $1,621,000.

Other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Castleview Partners LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth about $28,000. Covestor Ltd boosted its stake in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in GE Vernova during the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC raised its position in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Price Performance

Shares of GEV stock opened at $372.70 on Monday. The stock’s fifty day moving average price is $355.29 and its 200 day moving average price is $279.25. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a market cap of $102.74 billion and a price-to-earnings ratio of 67.03.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 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 analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova Announces Dividend

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

GE Vernova announced that its Board of Directors has approved a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 target price for the company. Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

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.