GE Vernova Inc. (NYSE:GEV) Stock Position Boosted by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 93.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,170 shares of the company’s stock after buying an additional 2,494 shares during the quarter. Jones Financial Companies Lllp’s holdings in GE Vernova were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GEV. Waverton Investment Management Ltd lifted 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 purchasing an additional 66,455 shares during the period. Register Financial Advisors LLC bought a new stake in shares of GE Vernova in the 4th quarter worth $206,000. Atria Investments Inc lifted its holdings in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after buying an additional 822 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in GE Vernova by 1,280.4% during the third quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock worth $1,961,000 after acquiring an additional 7,132 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on GEV. Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. BMO Capital Markets cut their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.83.

GE Vernova Price Performance

GEV opened at $292.60 on Friday. The company has a market capitalization of $80.73 billion and a PE ratio of 52.63. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business has a 50-day moving average of $360.94 and a 200-day moving average of $308.11.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.34%. GE Vernova’s payout ratio is presently 17.99%.

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