Parsons Capital Management Inc. RI Has $556,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Parsons Capital Management Inc. RI grew its holdings in GE Vernova Inc. (NYSE:GEV) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,691 shares of the company’s stock after purchasing an additional 87 shares during the period. Parsons Capital Management Inc. RI’s holdings in GE Vernova were worth $556,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. Castleview Partners LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $29,000. Covestor Ltd increased its position 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 purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in GE Vernova in the 3rd quarter valued at approximately $31,000.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. HSBC restated a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Trading Up 7.5 %

NYSE GEV opened at $354.80 on Wednesday. The company has a fifty day simple moving average of $353.47 and a 200 day simple moving average of $274.72. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market cap of $97.80 billion and a P/E ratio of 63.81.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.61 EPS for the current year.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

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.