Wendell David Associates Inc. Buys Shares of 618 GE Vernova Inc. (NYSE:GEV)

Wendell David Associates Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 618 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds have also recently made changes to their positions in the company. Castleview Partners LLC purchased a new stake in GE Vernova during the third quarter valued at approximately $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% during 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 last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp grew its stake in GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Barclays lifted their target price on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and set a $376.00 price target on shares of GE Vernova in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Finally, Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Stock Performance

NYSE:GEV opened at $426.84 on Thursday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $434.10. The stock’s 50-day moving average price is $347.50 and its 200-day moving average price is $268.31.

GE Vernova (NYSE:GEV) last issued 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). 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 3.67% and a return on equity of 4.22%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its board has approved a share repurchase program 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 programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.