Financial Advocates Investment Management Buys New Holdings in GE Vernova Inc. (NYSE:GEV)

Financial Advocates Investment Management bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The fund bought 799 shares of the company’s stock, valued at approximately $263,000.

A number of other large investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its position in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC increased its stake in GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares during the period. AdvisorNet Financial Inc raised its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its holdings in shares of GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $377.99 on Monday. The firm has a market cap of $104.19 billion and a PE ratio of 67.98. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The business’s 50 day simple moving average is $358.59 and its 200 day simple moving average is $286.31.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 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 firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GEV shares. Barclays raised their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Citigroup boosted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $346.22.

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.