CKW Financial Group Boosts Position in GE Vernova Inc. (NYSE:GEV)

CKW Financial Group boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 58.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 276 shares of the company’s stock after buying an additional 102 shares during the quarter. CKW Financial Group’s holdings in GE Vernova were worth $91,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC raised its position in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp raised its position in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC purchased a new position in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC raised its position in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC raised its position 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 last quarter.

GE Vernova Stock Down 4.2 %

Shares of GEV opened at $419.27 on Monday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm’s fifty day moving average is $353.38 and its two-hundred day moving average is $273.64. The stock has a market cap of $115.57 billion and a PE ratio of 75.41.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its Board of Directors has authorized 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 buy up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on GEV shares. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday. Bank of America lifted their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Barclays lifted their target price on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $339.73.

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.