Beaumont Financial Advisors LLC Makes New $300,000 Investment in GE Vernova Inc. (NYSE:GEV)

Beaumont Financial Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 912 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at $29,000. Covestor Ltd lifted its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Stock Up 2.6 %

Shares of GEV stock opened at $426.84 on Thursday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $434.10. The firm’s 50-day simple moving average is $347.50 and its two-hundred day simple moving average is $268.31.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 1.96 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%.

GE Vernova announced that its board has approved a stock 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 repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Oppenheimer initiated coverage on GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.85.

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.