Hudock Inc. Buys Shares of 683 GE Vernova Inc. (NYSE:GEV)

Hudock Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 683 shares of the company’s stock, valued at approximately $225,000.

Other large investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Castleview Partners LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth $28,000. Riggs Asset Managment Co. Inc. grew its holdings in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares during the period. Finally, Covestor Ltd grew its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GEV shares. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. BMO Capital Markets increased their price target on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Truist Financial increased their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Performance

Shares of GEV opened at $369.76 on Thursday. The stock has a 50-day simple moving average of $360.36 and a 200-day simple moving average of $290.17. The stock has a market capitalization of $101.92 billion and a PE ratio of 66.50. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for 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 for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows 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.

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.