Onefund LLC Acquires New Position in GE Vernova Inc. (NYSE:GEV)

Onefund LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 725 shares of the company’s stock, valued at approximately $238,000.

Several other large investors also recently bought and sold shares of the business. Nixon Peabody Trust Co. purchased a new stake in GE Vernova during the 4th quarter valued at about $225,000. Metis Global Partners LLC grew its stake in shares of GE Vernova by 3.9% in the 4th quarter. Metis Global Partners LLC now owns 10,883 shares of the company’s stock valued at $3,580,000 after buying an additional 405 shares during the period. US Bancorp DE grew its stake in shares of GE Vernova by 2.3% in the 4th quarter. US Bancorp DE now owns 93,217 shares of the company’s stock valued at $30,662,000 after buying an additional 2,082 shares during the period. Fisher Asset Management LLC grew its stake in shares of GE Vernova by 20.8% in the 4th quarter. Fisher Asset Management LLC now owns 3,237 shares of the company’s stock valued at $1,065,000 after buying an additional 557 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $1,170,000.

GE Vernova Stock Up 2.9 %

Shares of NYSE GEV opened at $335.80 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a 50-day moving average price of $363.85 and a 200 day moving average price of $304.63. The stock has a market capitalization of $92.65 billion and a price-to-earnings ratio of 60.40.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEV. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley upped their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Robert W. Baird started coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.