Geneos Wealth Management Inc. Acquires Shares of 2,033 GE Vernova Inc. (NYSE:GEV)

Geneos Wealth Management Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,033 shares of the company’s stock, valued at approximately $669,000.

Several other large investors have also recently modified their holdings of GEV. Castleview Partners LLC purchased a new position in GE Vernova in the 3rd quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova in the second quarter worth $29,000. Covestor Ltd grew its position 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 position in shares of GE Vernova in the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of GE Vernova by 175.0% during the 3rd 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 during the period.

GE Vernova Stock Performance

Shares of GEV stock opened at $354.80 on Wednesday. The company has a market capitalization of $97.80 billion and a P/E ratio of 63.81. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a 50 day moving average price of $353.47 and a two-hundred day moving average price of $274.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 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 net margin of 4.44% and a return on equity of 6.70%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.28%. GE Vernova’s dividend payout ratio is currently 17.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company boosted their price objective 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. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday. Eight equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $342.94.

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.