Howard Capital Management Inc. Acquires 81 Shares of GE Vernova Inc. (NYSE:GEV)

Howard Capital Management Inc. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,678 shares of the company’s stock after buying an additional 81 shares during the period. Howard Capital Management Inc.’s holdings in GE Vernova were worth $552,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GEV. Armstrong Advisory Group Inc. grew its stake in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC grew its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC increased its holdings in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its position in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after acquiring an additional 31 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GEV shares. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company raised their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company’s stock. 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 Stock Down 3.7 %

GEV stock opened at $315.74 on Tuesday. The company’s 50-day moving average price is $363.97 and its two-hundred day moving average price is $302.17. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The firm has a market cap of $87.11 billion and a P/E ratio of 56.79.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.