Central Asset Investments & Management Holdings HK Ltd Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,699 shares of the company’s stock, valued at approximately $888,000.

Several other hedge funds also recently modified their holdings of the business. Mountaineer Partners Management LLC bought a new position in GE Vernova during the third quarter worth $2,507,296,000. WCM Investment Management LLC grew its position 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 last quarter. FMR LLC increased its holdings in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after buying an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after buying an additional 456,879 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. BMO Capital Markets boosted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Robert W. Baird started coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. 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 report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Trading Up 5.5 %

Shares of GE Vernova stock opened at $335.15 on Thursday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $92.47 billion and a PE ratio of 60.28. The stock’s fifty day simple moving average is $364.13 and its 200 day simple moving average is $303.37.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

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.