4,150 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,150 shares of the company’s stock, valued at approximately $1,365,000.

Several other large investors also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Castleview Partners LLC purchased a new position in GE Vernova in the 3rd quarter worth about $28,000. Covestor Ltd raised its holdings in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter valued at about $31,000.

GE Vernova Stock Performance

Shares of GEV opened at $374.87 on Thursday. The company has a market cap of $103.43 billion and a price-to-earnings ratio of 67.42. The stock has a fifty day moving average price of $363.90 and a two-hundred day moving average price of $297.73. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced 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). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group increased their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays lifted their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird assumed coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given 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 a consensus price target of $350.13.

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.