CX Institutional Has $611,000 Stock Position in GE Vernova Inc. (NYSE:GEV)

CX Institutional raised its stake in GE Vernova Inc. (NYSE:GEV) by 20.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,858 shares of the company’s stock after buying an additional 319 shares during the quarter. CX Institutional’s holdings in GE Vernova were worth $611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Castleview Partners LLC bought a new position in GE Vernova during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new position in GE Vernova during the second quarter worth $29,000. Covestor Ltd increased its holdings in shares of 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 purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the period.

GE Vernova Stock Performance

NYSE:GEV opened at $419.27 on Friday. The stock has a market cap of $115.57 billion and a PE ratio of 75.41. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The stock has a 50 day moving average price of $353.38 and a 200 day moving average price of $272.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Jefferies Financial Group upped their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Barclays lifted their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Finally, Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

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.