Hardy Reed LLC Purchases 3,200 Shares of GE Vernova Inc. (NYSE:GEV)

Hardy Reed LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 111.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,076 shares of the company’s stock after purchasing an additional 3,200 shares during the quarter. Hardy Reed LLC’s holdings in GE Vernova were worth $1,999,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. International Assets Investment Management LLC grew its stake in shares of GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after acquiring an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC increased its position in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares during the period. 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in GE Vernova by 34.1% in 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.

GE Vernova Stock Performance

Shares of GEV stock opened at $374.87 on Thursday. The stock’s fifty day moving average is $363.90 and its 200-day moving average is $297.73. The stock has a market capitalization of $103.43 billion and a PE ratio of 67.42. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last announced 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). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast 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 initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Robert W. Baird started coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday. They issued an “outperform” rating for the company. Barclays increased their target price on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.