Onyx Bridge Wealth Group LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Onyx Bridge Wealth Group LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 697 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $226,000. Massachusetts Wealth Management boosted its holdings in shares of GE Vernova by 9.8% in the 4th quarter. Massachusetts Wealth Management now owns 5,620 shares of the company’s stock valued at $1,849,000 after buying an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of GE Vernova by 76.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,219 shares of the company’s stock valued at $25,670,000 after buying an additional 33,485 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $270,000. Finally, Stratos Wealth Advisors LLC boosted its holdings in shares of GE Vernova by 12.2% in the 4th quarter. Stratos Wealth Advisors LLC now owns 1,343 shares of the company’s stock valued at $442,000 after buying an additional 146 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Trading Up 1.8 %

Shares of NYSE GEV opened at $374.67 on Friday. The stock has a market cap of $103.28 billion and a price-to-earnings ratio of 67.39. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company’s 50-day moving average price is $356.93 and its 200 day moving average price is $283.41.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s payout ratio 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.