Bleakley Financial Group LLC Acquires 2,296 Shares of GE Vernova Inc. (NYSE:GEV)

Bleakley Financial Group LLC increased its holdings in GE Vernova Inc. (NYSE:GEV) by 29.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,979 shares of the company’s stock after buying an additional 2,296 shares during the period. Bleakley Financial Group LLC’s holdings in GE Vernova were worth $3,282,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% in 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 in the last quarter. Castleview Partners LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $28,000. Riggs Asset Managment Co. Inc. lifted its stake in GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd boosted its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at $31,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GEV. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Morgan Stanley boosted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group raised their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. BMO Capital Markets lifted their price objective 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Stock Up 1.8 %

NYSE GEV opened at $374.67 on Friday. The firm has a market capitalization of $103.28 billion and a PE ratio of 67.39. The stock’s 50 day moving average is $356.93 and its 200 day moving average is $283.41. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current year.

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 issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.