Mutual Advisors LLC Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Mutual Advisors LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,701 shares of the company’s stock after purchasing an additional 31 shares during the period. Mutual Advisors LLC’s holdings in GE Vernova were worth $888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Castleview Partners LLC purchased a new stake in shares of GE Vernova in the third quarter valued at about $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of GE Vernova in the second quarter valued at about $29,000. Covestor Ltd lifted its holdings in shares of 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 purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of GE Vernova in the third quarter valued at 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 valued at $31,000 after purchasing an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Barclays upped their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a research note on Friday. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 4.2 %

GE Vernova stock opened at $419.27 on Monday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a fifty day moving average of $353.38 and a 200-day moving average of $272.98. The firm has a market capitalization of $115.57 billion and a P/E ratio of 75.41.

GE Vernova (NYSE:GEV) last released its quarterly 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). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

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