GE Vernova Inc. (NYSE:GEV) Shares Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,989 shares of the company’s stock after buying an additional 400 shares during the quarter. Wealthspire Advisors LLC’s holdings in GE Vernova were worth $1,641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Waverton Investment Management Ltd lifted its stake in shares of 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 acquiring an additional 66,455 shares during the period. Register Financial Advisors LLC acquired a new stake in GE Vernova in the fourth quarter worth approximately $206,000. Hanlon Investment Management Inc. bought a new position in GE Vernova during the 3rd quarter valued at $1,101,000. Atria Investments Inc increased its position in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its stake in shares of 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 Price Performance

Shares of GEV stock opened at $315.74 on Tuesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock’s 50-day moving average is $363.97 and its two-hundred day moving average is $302.17. The firm has a market cap of $87.11 billion and a P/E ratio of 56.79.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

Analyst Ratings Changes

Several brokerages recently weighed in on GEV. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Truist Financial raised their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Barclays lifted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Citigroup lifted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

About GE Vernova

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.