Atomi Financial Group Inc. Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Atomi Financial Group Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,817 shares of the company’s stock after acquiring an additional 233 shares during the period. Atomi Financial Group Inc.’s holdings in GE Vernova were worth $598,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GEV. American Century Companies Inc. acquired a new position in GE Vernova during the 2nd quarter worth $4,940,000. XTX Topco Ltd acquired a new position in GE Vernova during the 2nd quarter worth $383,000. Intech Investment Management LLC acquired a new position in GE Vernova during the 2nd quarter worth $970,000. Benjamin F. Edwards & Company Inc. acquired a new position in GE Vernova during the 2nd quarter worth $368,000. Finally, Sei Investments Co. acquired a new position in GE Vernova during the 2nd quarter worth $14,126,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday. HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Guggenheim decreased their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $337.48.

GE Vernova Trading Up 2.4 %

NYSE GEV opened at $437.37 on Friday. The company’s 50 day simple moving average is $349.37 and its 200 day simple moving average is $269.42. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.