PYA Waltman Capital LLC Buys New Position in GE Vernova Inc. (NYSE:GEV)

PYA Waltman Capital LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 681 shares of the company’s stock, valued at approximately $224,000.

Several other large investors have also recently added to or reduced their stakes in the company. O Neil Global Advisors Inc. acquired a new position in GE Vernova in the 4th quarter valued at approximately $2,064,000. Centricity Wealth Management LLC acquired a new position in GE Vernova in the 4th quarter valued at approximately $91,000. Capital Investment Counsel Inc acquired a new position in GE Vernova in the 4th quarter valued at approximately $247,000. Forte Capital LLC ADV raised its holdings in GE Vernova by 237.9% in the 4th quarter. Forte Capital LLC ADV now owns 3,061 shares of the company’s stock valued at $1,007,000 after acquiring an additional 2,155 shares in the last quarter. Finally, ING Groep NV raised its holdings in GE Vernova by 130.6% in the 4th quarter. ING Groep NV now owns 59,408 shares of the company’s stock valued at $19,541,000 after acquiring an additional 33,645 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $359.57 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market cap of $99.21 billion and a P/E ratio of 64.67. The firm has a 50 day simple moving average of $364.50 and a two-hundred day simple moving average of $298.16.

GE Vernova (NYSE:GEV) last announced its quarterly 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). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEV. The Goldman Sachs Group upped their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Wells Fargo & Company increased 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. Finally, Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $350.13.

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.