Veracity Capital LLC Invests $756,000 in GE Vernova Inc. (NYSE:GEV)

Veracity Capital LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,299 shares of the company’s stock, valued at approximately $756,000.

Other hedge funds have also added to or reduced their stakes in the company. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the third quarter valued at $2,507,296,000. Legal & General Group Plc acquired a new stake in GE Vernova in the second quarter valued at $293,699,000. Electron Capital Partners LLC raised its position in GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after purchasing an additional 1,596,996 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after buying an additional 1,431,729 shares during the period. Finally, WCM Investment Management LLC lifted its holdings 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.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $437.37 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The business has a 50 day moving average price of $349.37 and a 200-day moving average price of $269.42.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 1.96 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Oppenheimer assumed coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. Jefferies Financial Group lifted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty 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 company presently has an average rating of “Moderate Buy” and an average price target of $337.48.

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.