Kingsview Wealth Management LLC Purchases 779 Shares of GE Vernova Inc. (NYSE:GEV)

Kingsview Wealth Management LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,502 shares of the company’s stock after acquiring an additional 779 shares during the quarter. Kingsview Wealth Management LLC’s holdings in GE Vernova were worth $2,467,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its stake in shares of GE Vernova by 102.6% in 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 during the last quarter. Castleview Partners LLC acquired a new stake in GE Vernova in the third quarter valued at about $28,000. Covestor Ltd grew its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GEV shares. Evercore ISI upped their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a report on Friday, January 24th. Finally, TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $346.22.

GE Vernova Stock Performance

GEV opened at $377.99 on Monday. The stock has a market capitalization of $104.19 billion and a price-to-earnings ratio of 67.98. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a fifty day moving average of $358.59 and a 200 day moving average of $286.31.

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 company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.