GE Vernova Inc. (NYSE:GEV) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,670 shares of the company’s stock after acquiring an additional 1,074 shares during the quarter. Perigon Wealth Management LLC’s holdings in GE Vernova were worth $1,536,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. State Street Corp raised its holdings in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC raised its holdings in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $353.65 on Thursday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The business has a fifty day moving average of $353.77 and a two-hundred day moving average of $275.94. The company has a market cap of $97.48 billion and a P/E ratio of 63.61.

GE Vernova (NYSE:GEV) last released its earnings results 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 net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova announced that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows 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 believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Wolfe Research assumed coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Evercore ISI raised their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

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.