823 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 823 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds have also recently bought and sold shares of the stock. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the third quarter worth approximately $2,507,296,000. International Assets Investment Management LLC grew its holdings in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after buying an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC increased its position in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares during the period. FMR LLC lifted its holdings in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. Barclays lifted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Bank of America lifted 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. Finally, Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Trading Up 0.8 %

Shares of GEV stock opened at $377.99 on Monday. The firm has a market capitalization of $104.19 billion and a price-to-earnings ratio of 67.98. The business’s 50-day moving average price is $358.59 and its 200-day moving average price is $286.31. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s 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 declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. GE Vernova’s payout ratio is 17.99%.

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.