New England Research & Management Inc. Invests $238,000 in GE Vernova Inc. (NYSE:GEV)

New England Research & Management Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel reports. The firm purchased 725 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors also recently modified their holdings of GEV. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova during the third quarter worth $28,000. Pathway Financial Advisers LLC acquired a new position in shares of GE Vernova during the second quarter worth $29,000. Covestor Ltd increased its holdings in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter worth $31,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $353.65 on Thursday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a market cap of $97.48 billion and a price-to-earnings ratio of 63.61. The firm’s 50-day simple moving average is $353.77 and its 200 day simple moving average is $275.94.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.28%. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEV. Truist Financial increased their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

About GE Vernova

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.