Howard Capital Management Inc. Buys 81 Shares of GE Vernova Inc. (NYSE:GEV)

Howard Capital Management Inc. grew its position in GE Vernova Inc. (NYSE:GEV) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,678 shares of the company’s stock after acquiring an additional 81 shares during the period. Howard Capital Management Inc.’s holdings in GE Vernova were worth $552,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC raised 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 valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Asset Planning Inc bought a new position in GE Vernova in the 4th quarter valued at approximately $35,000. Riggs Asset Managment Co. Inc. boosted its position in 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. Finally, Covestor Ltd grew its holdings in 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird assumed coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating on the stock. 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 research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Down 3.7 %

Shares of NYSE:GEV opened at $315.74 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock’s 50 day moving average is $363.97 and its 200-day moving average is $302.17. The firm has a market capitalization of $87.11 billion and a price-to-earnings ratio of 56.79.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 business 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 business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its board has authorized a share 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 usually a sign that the company’s leadership believes its shares are undervalued.

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.