Parkwoods Wealth Partners LLC Invests $245,000 in GE Vernova Inc. (NYSE:GEV)

Parkwoods Wealth Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel.com reports. The fund bought 745 shares of the company’s stock, valued at approximately $245,000. GE Vernova accounts for approximately 0.2% of Parkwoods Wealth Partners LLC’s holdings, making the stock its 24th largest position.

Several other hedge funds have also bought and sold shares of the stock. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. International Assets Investment Management LLC grew its position in GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after acquiring an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC increased its stake in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC raised its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after purchasing an additional 460,834 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on GEV. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Stock Performance

GEV stock opened at $355.85 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market capitalization of $98.09 billion and a price-to-earnings ratio of 64.95. The business’s 50 day moving average price is $353.77 and its two-hundred day moving average price is $275.94.

GE Vernova (NYSE:GEV) last issued its quarterly 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 analysts’ expectations 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. Sell-side analysts forecast that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

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.