Milestone Asset Management LLC Buys Shares of 758 GE Vernova Inc. (NYSE:GEV)

Milestone Asset Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 758 shares of the company’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp boosted its stake in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC increased its stake in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in GE Vernova by 83.1% in the 3rd 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 during the period.

Wall Street Analyst Weigh In

Several analysts have issued reports on GEV shares. Morgan Stanley boosted their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays increased their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. HSBC reaffirmed a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $342.94.

GE Vernova Stock Performance

Shares of GEV opened at $382.73 on Friday. The stock has a market capitalization of $105.50 billion and a PE ratio of 68.84. The company’s fifty day moving average is $353.99 and its 200 day moving average is $276.49. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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

About GE Vernova

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.