Wealth Alliance Has $316,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Wealth Alliance boosted its position in GE Vernova Inc. (NYSE:GEV) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 960 shares of the company’s stock after purchasing an additional 90 shares during the period. Wealth Alliance’s holdings in GE Vernova were worth $316,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its position in 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 purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in GE Vernova in the 4th quarter worth about $206,000. Hanlon Investment Management Inc. bought a new stake in GE Vernova in the 3rd quarter worth about $1,101,000. Atria Investments Inc grew its position in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its position in 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 purchasing an additional 822 shares in the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $327.68 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a market capitalization of $90.41 billion and a PE ratio of 58.93. The company’s 50 day simple moving average is $364.41 and its two-hundred day simple moving average is $299.31.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced 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 buy up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price for the company. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Citigroup increased their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average 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.