Fourpath Capital Management LLC Purchases 56 Shares of GE Vernova Inc. (NYSE:GEV)

Fourpath Capital Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 10.1% in the fourth quarter, HoldingsChannel reports. The fund owned 612 shares of the company’s stock after buying an additional 56 shares during the period. Fourpath Capital Management LLC’s holdings in GE Vernova were worth $201,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Castleview Partners LLC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $28,000. Riggs Asset Managment Co. Inc. grew its position in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after buying an additional 57 shares during the period. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the third quarter worth approximately $31,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of 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 upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Friday, January 24th. Finally, Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Trading Down 1.4 %

Shares of GEV stock opened at $356.62 on Wednesday. The firm’s fifty day moving average price is $355.93 and its two-hundred day moving average price is $281.46. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm has a market capitalization of $98.30 billion and a P/E ratio of 64.14.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company 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 company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. GE Vernova’s dividend payout ratio is presently 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.