RFG Advisory LLC Takes $219,000 Position in GE Vernova Inc. (NYSE:GEV)

RFG Advisory LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 665 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans acquired a new stake in shares of GE Vernova during the second quarter worth about $2,339,000. Public Sector Pension Investment Board acquired a new stake in GE Vernova during the 2nd quarter worth approximately $1,800,000. AQR Capital Management LLC bought a new position in GE Vernova in the second quarter valued at approximately $22,066,000. Mackenzie Financial Corp acquired a new position in shares of GE Vernova in the second quarter valued at approximately $4,004,000. Finally, Scientech Research LLC bought a new stake in shares of GE Vernova during the second quarter worth $257,000.

GE Vernova Stock Performance

NYSE GEV opened at $354.80 on Wednesday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a market cap of $97.80 billion and a PE ratio of 63.81. The firm has a 50-day moving average of $353.47 and a 200-day moving average of $274.72.

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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

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

GE Vernova Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Barclays boosted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $342.94.

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.