Thompson Davis & CO. Inc. Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Thompson Davis & CO. Inc. boosted its stake in GE Vernova Inc. (NYSE:GEV) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,125 shares of the company’s stock after purchasing an additional 75 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in GE Vernova were worth $699,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC raised its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Covestor Ltd raised its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its position in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Robert W. Baird initiated coverage on shares of GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday. They issued an “outperform” rating on the stock. Finally, Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Eight investment 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Down 8.9 %

Shares of GEV opened at $327.68 on Friday. The company has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a 50 day moving average of $364.41 and a two-hundred day moving average of $299.31.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during 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 business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically 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.