Avidian Wealth Enterprises LLC Purchases Shares of 621 GE Vernova Inc. (NYSE:GEV)

Avidian Wealth Enterprises LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 621 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors have also recently made changes to their positions in the company. Kentucky Trust Co bought a new position in GE Vernova in the 4th quarter worth approximately $174,000. Valley Brook Capital Group Inc. purchased a new position in shares of GE Vernova in the fourth quarter worth $243,000. Gladstone Institutional Advisory LLC boosted its position in shares of GE Vernova by 25.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,024 shares of the company’s stock worth $666,000 after acquiring an additional 409 shares during the last quarter. Schear Investment Advisers LLC grew its stake in GE Vernova by 10.4% during the fourth quarter. Schear Investment Advisers LLC now owns 9,399 shares of the company’s stock valued at $3,092,000 after acquiring an additional 888 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in GE Vernova by 70.5% in the 4th quarter. Leavell Investment Management Inc. now owns 6,347 shares of the company’s stock valued at $2,089,000 after acquiring an additional 2,624 shares during the last quarter.

GE Vernova Trading Down 0.8 %

Shares of GEV stock opened at $367.43 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a fifty day simple moving average of $361.32 and a two-hundred day simple moving average of $291.28. The stock has a market capitalization of $101.28 billion and a price-to-earnings ratio of 66.08.

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 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 was up 5.1% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on GEV shares. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Robert W. Baird started coverage on GE Vernova in a report on Thursday. They set an “outperform” rating and a $448.00 price target for the company. BMO Capital Markets upped their price objective on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a report on Friday, January 24th. Finally, Morgan Stanley upped their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

About GE Vernova

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.