E Fund Management Hong Kong Co. Ltd. lessened its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 48.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 211 shares of the company’s stock after selling 197 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in GE Vernova were worth $69,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Waverton Investment Management Ltd raised its position in GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova in the third quarter valued at about $1,101,000. Atria Investments Inc lifted its stake in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the period. Fractal Investments LLC bought a new position in GE Vernova during the 3rd quarter worth about $1,530,000. Finally, Legal & General Group Plc purchased a new position in GE Vernova during the 2nd quarter valued at about $293,699,000.
Analyst Ratings Changes
GEV has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, HSBC reaffirmed a “hold” rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $339.73.
GE Vernova Trading Down 4.2 %
Shares of GE Vernova stock opened at $419.27 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a market capitalization of $115.57 billion and a PE ratio of 75.41. The firm’s 50-day moving average price is $353.38 and its 200 day moving average price is $272.98.
GE Vernova (NYSE:GEV – Get Free Report) last issued its quarterly 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). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. GE Vernova’s payout ratio is presently 17.99%.
GE Vernova declared that its board has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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.
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