Crossmark Global Holdings Inc. Buys 695 Shares of GE Vernova Inc. (NYSE:GEV)

Crossmark Global Holdings Inc. grew its stake in GE Vernova Inc. (NYSE:GEV) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,299 shares of the company’s stock after purchasing an additional 695 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in GE Vernova were worth $4,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castleview Partners LLC purchased a new stake in GE Vernova in the third quarter worth about $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova in the 2nd quarter worth approximately $29,000. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC grew its stake 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 Trading Up 2.6 %

Shares of NYSE GEV 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 fifty day moving average is $347.50 and its two-hundred day moving average is $268.31.

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

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

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of GE Vernova from $400.00 to $446.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 target price on shares of GE Vernova in a report on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Barclays raised their price objective on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company boosted their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.