Monument Capital Management Makes New $210,000 Investment in GE Vernova Inc. (NYSE:GEV)

Monument Capital Management purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 638 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at approximately $28,000. Covestor Ltd lifted its holdings in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova in the third quarter valued at approximately $31,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Citigroup boosted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Barclays increased their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Performance

GE Vernova stock opened at $367.43 on Tuesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market capitalization of $101.28 billion and a price-to-earnings ratio of 66.08. The stock has a fifty day moving average of $361.74 and a two-hundred day moving average of $294.36.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

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

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.