GE Vernova Inc. (NYSE:GEV) Shares Purchased by Aljian Capital Management LLC

Aljian Capital Management LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 10.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,207 shares of the company’s stock after buying an additional 300 shares during the period. Aljian Capital Management LLC’s holdings in GE Vernova were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC lifted its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter valued at approximately $28,000. Riggs Asset Managment Co. Inc. boosted its position in GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research note on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Down 0.8 %

Shares of GEV opened at $369.76 on Thursday. The stock has a fifty day simple moving average of $360.87 and a two-hundred day simple moving average of $290.73. The company has a market capitalization of $101.92 billion and a PE ratio of 66.50. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board 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.