Beaumont Financial Advisors LLC Acquires New Shares in GE Vernova Inc. (NYSE:GEV)

Beaumont Financial Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 912 shares of the company’s stock, valued at approximately $300,000.

A number of other large investors have also recently made changes to their positions in the stock. Waverton Investment Management Ltd boosted its stake in GE Vernova by 10.0% in the 3rd 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. Hanlon Investment Management Inc. bought a new position in shares of GE Vernova in the third quarter valued at approximately $1,101,000. Atria Investments Inc grew its stake in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Fractal Investments LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $1,530,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova in the 2nd quarter worth approximately $293,699,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on GEV shares. BMO Capital Markets boosted their price target on shares of GE Vernova from $360.00 to $420.00 in a research report on Tuesday. Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Oppenheimer began coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating for the company. Truist Financial raised their target price on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $326.85.

GE Vernova Trading Up 2.6 %

NYSE:GEV opened at $426.84 on Thursday. The company has a fifty day moving average of $347.50 and a 200 day moving average of $268.31. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $434.10.

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). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova Inc. will post 1.96 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%.

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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.