GE Vernova Inc. (NYSE:GEV) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in GE Vernova Inc. (NYSE:GEV) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,342 shares of the company’s stock after selling 169 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in GE Vernova were worth $441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GEV. Central Asset Investments & Management Holdings HK Ltd acquired a new position in GE Vernova during the fourth quarter worth approximately $888,000. New York Life Investment Management LLC raised its position in GE Vernova by 12.1% during the fourth quarter. New York Life Investment Management LLC now owns 40,932 shares of the company’s stock worth $13,464,000 after acquiring an additional 4,418 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in GE Vernova during the fourth quarter worth $261,000. Oregon Public Employees Retirement Fund raised its position in shares of GE Vernova by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,633 shares of the company’s stock valued at $7,774,000 after buying an additional 159 shares during the last quarter. Finally, Advisor OS LLC boosted its holdings in shares of GE Vernova by 26.8% during the fourth quarter. Advisor OS LLC now owns 1,362 shares of the company’s stock worth $448,000 after purchasing an additional 288 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GEV shares. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Barclays increased their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Truist Financial upped their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Up 5.5 %

Shares of GEV stock opened at $335.15 on Thursday. The business’s 50-day moving average price is $364.13 and its 200-day moving average price is $303.37. The firm has a market capitalization of $92.47 billion and a price-to-earnings ratio of 60.28. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last issued 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict 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. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its board has approved a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback 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.