Everhart Financial Group Inc. Grows Stake in GE Vernova Inc. (NYSE:GEV)

Everhart Financial Group Inc. increased its stake in GE Vernova Inc. (NYSE:GEV) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,710 shares of the company’s stock after acquiring an additional 368 shares during the period. Everhart Financial Group Inc.’s holdings in GE Vernova were worth $1,220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its position in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in GE Vernova in the fourth quarter worth about $206,000. Hanlon Investment Management Inc. bought a new stake in GE Vernova in the third quarter worth about $1,101,000. Atria Investments Inc lifted its stake in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on GEV shares. TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Wolfe Research started coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Friday, January 24th. Finally, Citigroup lifted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Trading Down 0.8 %

NYSE GEV opened at $367.43 on Friday. The firm’s fifty day simple moving average is $361.74 and its two-hundred day simple moving average is $292.64. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The firm has a market capitalization of $101.28 billion and a P/E ratio of 66.08.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders 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 dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors 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.