Wealth Alliance Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Wealth Alliance grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 960 shares of the company’s stock after buying an additional 90 shares during the quarter. Wealth Alliance’s holdings in GE Vernova were worth $316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Howard Capital Management Group LLC purchased a new position in GE Vernova in the 3rd quarter worth $213,000. Private Advisor Group LLC raised its position in GE Vernova by 8.2% in the 3rd quarter. Private Advisor Group LLC now owns 20,098 shares of the company’s stock worth $5,125,000 after purchasing an additional 1,531 shares during the period. International Assets Investment Management LLC raised its position in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the period. Brighton Jones LLC raised its position in GE Vernova by 21.8% in the 3rd quarter. Brighton Jones LLC now owns 2,562 shares of the company’s stock worth $653,000 after purchasing an additional 459 shares during the period. Finally, CENTRAL TRUST Co raised its position in GE Vernova by 47.5% in the 3rd quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock worth $2,158,000 after purchasing an additional 2,726 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Truist Financial lifted their target price 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. Jefferies Financial Group raised their price target 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. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, CICC Research began coverage on shares of GE Vernova in a research report on Wednesday. They issued an “outperform” rating on the stock. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Performance

Shares of GEV opened at $327.68 on Friday. The stock has a market cap of $90.41 billion and a PE ratio of 58.93. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm’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 announced 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 analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.