Diversify Wealth Management LLC Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Diversify Wealth Management LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,149 shares of the company’s stock after buying an additional 49 shares during the period. Diversify Wealth Management LLC’s holdings in GE Vernova were worth $378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp increased its position in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $2,507,296,000. Geode Capital Management LLC raised its holdings in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Citigroup boosted their price target on shares of GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. HSBC restated a “hold” rating and set a $255.00 price target (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. BMO Capital Markets boosted their target price on GE Vernova from $360.00 to $420.00 in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Stock Up 2.6 %

Shares of GEV stock opened at $426.84 on Thursday. The business’s fifty day moving average is $347.50 and its 200 day moving average is $268.31. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $434.10.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, December 20th.

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

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.