Mutual of America Capital Management LLC Has $12.29 Million Position in GE Vernova Inc. (NYSE:GEV)

Mutual of America Capital Management LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,354 shares of the company’s stock after selling 2,259 shares during the quarter. Mutual of America Capital Management LLC’s holdings in GE Vernova were worth $12,287,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Howard Capital Management Group LLC bought a new stake in GE Vernova in the third quarter valued at about $213,000. Diversify Wealth Management LLC acquired a new stake in GE Vernova during the third quarter valued at approximately $308,000. US Bancorp DE boosted its holdings in GE Vernova by 7.6% during the third quarter. US Bancorp DE now owns 91,135 shares of the company’s stock valued at $23,238,000 after purchasing an additional 6,418 shares in the last quarter. Stephens Inc. AR grew its stake in shares of GE Vernova by 5.4% in the 3rd quarter. Stephens Inc. AR now owns 7,650 shares of the company’s stock valued at $1,951,000 after purchasing an additional 389 shares during the period. Finally, Capital Advisors Inc. OK raised its holdings in shares of GE Vernova by 2.0% in the 3rd quarter. Capital Advisors Inc. OK now owns 212,381 shares of the company’s stock worth $54,153,000 after buying an additional 4,238 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $335.80 on Friday. The firm’s 50 day moving average price is $363.85 and its two-hundred day moving average price is $305.51. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a market cap of $92.65 billion and a PE ratio of 60.40.

GE Vernova (NYSE:GEV) last posted 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 return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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 given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. GE Vernova’s dividend payout ratio is 17.99%.

Analyst Ratings Changes

A number of analysts have weighed in on GEV shares. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research report on Friday, January 24th. BMO Capital Markets upped their target price on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Barclays increased their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

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.