6,213 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Donoghue Forlines LLC

Donoghue Forlines LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,213 shares of the company’s stock, valued at approximately $2,044,000. GE Vernova accounts for 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. MinichMacGregor Wealth Management LLC lifted its stake in shares of GE Vernova by 24.7% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 2,726 shares of the company’s stock worth $897,000 after purchasing an additional 540 shares during the last quarter. Mutual Advisors LLC raised its holdings in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Wendell David Associates Inc. bought a new position in GE Vernova in the fourth quarter worth about $203,000. Traynor Capital Management Inc. purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $231,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of GE Vernova by 18.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 45,488 shares of the company’s stock valued at $14,963,000 after buying an additional 7,099 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on GEV. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. HSBC reaffirmed a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI upped their price objective 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. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $335.40.

GE Vernova Stock Up 0.1 %

Shares of NYSE GEV opened at $427.56 on Thursday. The firm’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 $434.10.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The business’s revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%.

GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board 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.