Centricity Wealth Management LLC Takes $91,000 Position in GE Vernova Inc. (NYSE:GEV)

Centricity Wealth Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 276 shares of the company’s stock, valued at approximately $91,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Covestor Ltd increased its stake in GE Vernova by 61.3% during the third 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 stake in GE Vernova in the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of 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 purchasing an additional 77 shares during the last quarter.

GE Vernova Stock Performance

GEV opened at $327.68 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market cap of $90.41 billion and a P/E ratio of 58.93. The business’s 50-day simple moving average is $364.41 and its 200-day simple moving average is $299.31.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova’s dividend payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GEV shares. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Robert W. Baird assumed coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target for the company. Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Barclays increased their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Company 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.