Allworth Financial LP Buys 1,590 Shares of GE Vernova Inc. (NYSE:GEV)

Allworth Financial LP lifted its stake in GE Vernova Inc. (NYSE:GEV) by 38.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,688 shares of the company’s stock after buying an additional 1,590 shares during the quarter. Allworth Financial LP’s holdings in GE Vernova were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Waverton Investment Management Ltd raised its stake in GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after acquiring an additional 66,455 shares during the period. Register Financial Advisors LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at $206,000. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova during the 3rd quarter valued at $1,101,000. Atria Investments Inc boosted its holdings in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after buying an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after buying an additional 822 shares in the last quarter.

GE Vernova Stock Performance

GEV opened at $372.59 on Wednesday. The stock’s 50 day moving average price is $362.38 and its 200-day moving average price is $295.72. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The stock has a market cap of $102.70 billion and a price-to-earnings ratio of 67.01.

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

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GEV shares. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $350.13.

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.