Crossmark Global Holdings Inc. Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Crossmark Global Holdings Inc. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.0% during the fourth quarter, HoldingsChannel reports. The fund owned 12,299 shares of the company’s stock after acquiring an additional 695 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in GE Vernova were worth $4,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Castleview Partners LLC purchased a new position in shares of GE Vernova during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $29,000. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova during the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC grew its position in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. Oppenheimer started coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a “market perform” rating for the company. The Goldman Sachs Group boosted their price target on GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Guggenheim decreased their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Morgan Stanley increased their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $426.84 on Thursday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $434.10. The business has a 50-day moving average price of $347.50 and a 200 day moving average price of $268.31.

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 net margin of 3.67% and a return on equity of 4.22%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders 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 yield of 0.23%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.