Curbstone Financial Management Corp Takes Position in GE Vernova Inc. (NYSE:GEV)

Curbstone Financial Management Corp purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,336 shares of the company’s stock, valued at approximately $439,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% during the 4th 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 acquired a new position in GE Vernova during the third quarter worth $28,000. Covestor Ltd raised its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares in the last quarter.

GE Vernova Stock Down 21.6 %

GEV stock opened at $329.63 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company has a market cap of $90.86 billion and a price-to-earnings ratio of 59.29. The business has a fifty day simple moving average of $353.38 and a 200-day simple moving average of $273.64.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed 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 0.30%. The ex-dividend date is Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

A number of analysts have commented on GEV shares. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

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.