564 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Aspiring Ventures LLC

Aspiring Ventures LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 564 shares of the company’s stock, valued at approximately $186,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of GE Vernova by 3.3% in the fourth quarter. Fifth Third Bancorp now owns 87,578 shares of the company’s stock worth $28,807,000 after buying an additional 2,785 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $1,645,000. Benin Management CORP boosted its stake in GE Vernova by 19.5% in the 4th quarter. Benin Management CORP now owns 1,560 shares of the company’s stock worth $513,000 after purchasing an additional 255 shares during the period. Exchange Traded Concepts LLC grew its position in GE Vernova by 261.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,731 shares of the company’s stock worth $4,517,000 after purchasing an additional 9,928 shares in the last quarter. Finally, CX Institutional raised its stake in GE Vernova by 20.7% during the 4th quarter. CX Institutional now owns 1,858 shares of the company’s stock valued at $611,000 after purchasing an additional 319 shares during the period.

GE Vernova Price Performance

Shares of GEV opened at $419.27 on Friday. The company has a market capitalization 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 company’s fifty day moving average price is $353.38 and its 200 day moving average price is $272.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for 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%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication 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. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. GE Vernova’s dividend payout ratio is 17.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Finally, HSBC reiterated a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.73.

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.