GE Vernova Inc. (NYSE:GEV) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,989 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Wealthspire Advisors LLC’s holdings in GE Vernova were worth $1,641,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. TCW Group Inc. raised its stake in shares of GE Vernova by 24.9% in the 4th quarter. TCW Group Inc. now owns 193,140 shares of the company’s stock valued at $63,530,000 after acquiring an additional 38,547 shares during the period. Sigma Planning Corp increased its holdings in GE Vernova by 9.4% in the 4th quarter. Sigma Planning Corp now owns 4,241 shares of the company’s stock valued at $1,395,000 after purchasing an additional 364 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in GE Vernova by 3.7% in the fourth quarter. Thompson Davis & CO. Inc. now owns 2,125 shares of the company’s stock valued at $699,000 after purchasing an additional 75 shares during the period. Boyd Watterson Asset Management LLC OH lifted its stake in shares of GE Vernova by 60.0% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 1,259 shares of the company’s stock worth $414,000 after purchasing an additional 472 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its position in shares of GE Vernova by 3.7% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,059 shares of the company’s stock worth $1,664,000 after buying an additional 182 shares during the period.

GE Vernova Trading Down 3.7 %

Shares of GE Vernova stock opened at $315.74 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $87.11 billion and a price-to-earnings ratio of 56.79. The business’s 50 day simple moving average is $363.97 and its 200-day simple moving average is $302.17.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its board has authorized a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research note on Friday, January 24th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

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.