SVB Wealth LLC Acquires Shares of 3,559 GE Vernova Inc. (NYSE:GEV)

SVB Wealth LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,559 shares of the company’s stock, valued at approximately $1,170,000.

Other large investors have also added to or reduced their stakes in the company. Waverton Investment Management Ltd raised its stake in shares of GE Vernova by 10.0% in the third 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 during the last quarter. Register Financial Advisors LLC purchased a new position in shares of GE Vernova in the fourth quarter worth $206,000. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova in the third quarter worth $1,101,000. Atria Investments Inc raised its stake in shares of GE Vernova by 127.0% in the third 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 during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in shares of GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Wolfe Research assumed coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. 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. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Up 2.9 %

NYSE GEV opened at $335.80 on Monday. The firm has a market cap of $92.65 billion and a price-to-earnings ratio of 60.40. The business has a 50-day moving average price of $363.85 and a 200-day moving average price of $306.36. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 business had revenue of $10.56 billion during 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 firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a share repurchase program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova 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.