GE Vernova Inc. (NYSE:GEV) Shares Bought by Benin Management CORP

Benin Management CORP lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,560 shares of the company’s stock after buying an additional 255 shares during the quarter. Benin Management CORP’s holdings in GE Vernova were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Armstrong Advisory Group Inc. grew its holdings in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC grew its stake in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares during the last quarter. Mutual Advisors LLC increased its holdings in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its stake in GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after buying an additional 35 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup increased their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $419.27 on Friday. The stock has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock’s 50 day moving average price is $351.59 and its 200 day moving average price is $270.59.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova announced that its board has approved 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 purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed 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 dividend payout ratio (DPR) is 17.99%.

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.