Aspiring Ventures LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Aspiring Ventures LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 564 shares of the company’s stock, valued at approximately $186,000.

A number of other large investors have also modified their holdings of the company. Fifth Third Bancorp boosted its stake in GE Vernova by 3.3% during 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 in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of GE Vernova during the 4th quarter worth about $1,645,000. Benin Management CORP boosted its position in shares of GE Vernova by 19.5% during the 4th quarter. Benin Management CORP now owns 1,560 shares of the company’s stock valued at $513,000 after acquiring an additional 255 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in GE Vernova by 261.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,731 shares of the company’s stock valued at $4,517,000 after acquiring an additional 9,928 shares during the period. Finally, CX Institutional raised its position in GE Vernova by 20.7% in the fourth quarter. CX Institutional now owns 1,858 shares of the company’s stock worth $611,000 after purchasing an additional 319 shares in the last quarter.

GE Vernova Trading Down 4.2 %

NYSE GEV opened at $419.27 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a 50-day simple moving average of $353.38 and a 200 day simple moving average of $272.29. The company has a market capitalization of $115.57 billion and a PE ratio of 75.41.

GE Vernova (NYSE:GEV) last released 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). 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 for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued 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 (DPR) is currently 17.99%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. BMO Capital Markets lifted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued 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 price target of $339.73.

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.