E Fund Management Co. Ltd. Buys 1,213 Shares of GE Vernova Inc. (NYSE:GEV)

E Fund Management Co. Ltd. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 32.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,952 shares of the company’s stock after purchasing an additional 1,213 shares during the quarter. E Fund Management Co. Ltd.’s holdings in GE Vernova were worth $1,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter valued at approximately $2,507,296,000. WCM Investment Management LLC raised its stake 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 valued at $639,704,000 after purchasing an additional 1,161,901 shares during the period. Raymond James Financial Inc. bought a new stake in GE Vernova during the 4th quarter valued at approximately $219,187,000. FMR LLC raised its stake in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GE Vernova by 34.1% during the 3rd 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 purchasing an additional 460,834 shares during the period.

Analyst Ratings Changes

Several analysts recently issued reports on GEV shares. Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Morgan Stanley lifted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.83.

GE Vernova Stock Down 7.6 %

Shares of NYSE GEV opened at $292.60 on Friday. The business has a fifty day simple moving average of $360.94 and a two-hundred day simple moving average of $308.11. The firm has a market cap of $80.73 billion and a PE ratio of 52.63. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.