GE Vernova Inc. (NYSE:GEV) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,138 shares of the company’s stock after buying an additional 72 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in GE Vernova were worth $1,032,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd grew its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in GE Vernova during the 3rd quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% during 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 in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $327.68 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a fifty day moving average of $364.41 and a two-hundred day moving average of $300.25. The firm has a market capitalization of $90.41 billion and a PE ratio of 58.93.

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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Guggenheim lowered 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. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

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.