GE Vernova Inc. (NYSE:GEV) Shares Purchased by Burford Brothers Inc.

Burford Brothers Inc. raised its stake in GE Vernova Inc. (NYSE:GEV) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,145 shares of the company’s stock after purchasing an additional 46 shares during the quarter. Burford Brothers Inc.’s holdings in GE Vernova were worth $1,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova in the third quarter valued at approximately $28,000. Riggs Asset Managment Co. Inc. lifted its stake in shares of GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after buying an additional 57 shares during the period. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $31,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on GEV. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. BMO Capital Markets upped their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Citigroup raised their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Performance

NYSE:GEV opened at $372.70 on Monday. The stock has a 50-day simple moving average of $355.29 and a 200 day simple moving average of $279.25. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market capitalization of $102.74 billion and a price-to-earnings ratio of 67.03.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is 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.