1,565 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,565 shares of the company’s stock, valued at approximately $515,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Howard Capital Management Group LLC acquired a new position in GE Vernova in the 3rd quarter worth $213,000. Diversify Wealth Management LLC bought a new position in GE Vernova in the 3rd quarter valued at about $308,000. US Bancorp DE increased its holdings in shares of GE Vernova by 7.6% during the third quarter. US Bancorp DE now owns 91,135 shares of the company’s stock worth $23,238,000 after purchasing an additional 6,418 shares during the period. Stephens Inc. AR increased its holdings in shares of GE Vernova by 5.4% during the third quarter. Stephens Inc. AR now owns 7,650 shares of the company’s stock worth $1,951,000 after purchasing an additional 389 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in shares of GE Vernova by 2.0% during the 3rd quarter. Capital Advisors Inc. OK now owns 212,381 shares of the company’s stock worth $54,153,000 after acquiring an additional 4,238 shares in the last quarter.

GE Vernova Stock Up 2.9 %

Shares of NYSE GEV opened at $335.80 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market cap of $92.65 billion and a PE ratio of 60.40. The business’s 50 day moving average price is $363.85 and its two-hundred day moving average price is $305.51.

GE Vernova (NYSE:GEV) last announced its quarterly 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 analyst estimates 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, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEV. Robert W. Baird initiated coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target for the company. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.