Onyx Bridge Wealth Group LLC Invests $229,000 in GE Vernova Inc. (NYSE:GEV)

Onyx Bridge Wealth Group LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 697 shares of the company’s stock, valued at approximately $229,000.

Several other large investors have also modified their holdings of GEV. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth about $2,507,296,000. International Assets Investment Management LLC raised its holdings in GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after buying an additional 1,431,729 shares during the period. WCM Investment Management LLC raised its holdings in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares during the period. FMR LLC raised its holdings in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after buying an additional 460,834 shares during the period.

GE Vernova Stock Performance

Shares of GEV opened at $374.67 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market cap of $103.28 billion and a price-to-earnings ratio of 67.39. The firm has a fifty day moving average of $356.93 and a 200-day moving average of $283.41.

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 the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 6.33 EPS for the current year.

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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday, January 24th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Barclays raised their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

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.