Catalina Capital Group LLC Has $277,000 Stake in GE Vernova Inc. (NYSE:GEV)

Catalina Capital Group LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 843 shares of the company’s stock after purchasing an additional 51 shares during the period. Catalina Capital Group LLC’s holdings in GE Vernova were worth $277,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GEV. JB Capital LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $241,000. Chicago Capital LLC lifted its position in shares of GE Vernova by 9.3% during the 4th quarter. Chicago Capital LLC now owns 5,101 shares of the company’s stock valued at $1,678,000 after acquiring an additional 433 shares during the period. FSM Wealth Advisors LLC increased its position in shares of GE Vernova by 11.5% in the fourth quarter. FSM Wealth Advisors LLC now owns 1,907 shares of the company’s stock worth $627,000 after purchasing an additional 197 shares during the period. Burford Brothers Inc. raised its stake in GE Vernova by 1.5% in the fourth quarter. Burford Brothers Inc. now owns 3,145 shares of the company’s stock valued at $1,034,000 after purchasing an additional 46 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares in the last quarter.

GE Vernova Stock Down 3.2 %

Shares of NYSE GEV opened at $361.01 on Tuesday. The company has a market capitalization of $99.51 billion and a PE ratio of 64.93. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a fifty day simple moving average of $355.29 and a 200 day simple moving average of $280.05.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

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

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 $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GEV. Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. BMO Capital Markets lifted their price target on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.