Sound Income Strategies LLC Boosts Position in GE Vernova Inc. (NYSE:GEV)

Sound Income Strategies LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 484 shares of the company’s stock after purchasing an additional 57 shares during the quarter. Sound Income Strategies LLC’s holdings in GE Vernova were worth $159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LexAurum Advisors LLC grew its stake in shares of GE Vernova by 38.6% in the 4th quarter. LexAurum Advisors LLC now owns 1,120 shares of the company’s stock valued at $368,000 after buying an additional 312 shares during the period. RFG Advisory LLC acquired a new stake in GE Vernova during the fourth quarter worth $219,000. Brighton Jones LLC raised its position in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the period. Hengehold Capital Management LLC lifted its stake in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares during the last quarter. Finally, Veracity Capital LLC purchased a new position in shares of GE Vernova during the 4th quarter worth $756,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GEV shares. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Bank of America upped their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Truist Financial upped their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 4.2 %

Shares of GEV opened at $419.27 on Friday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a 50 day moving average price of $351.59 and a 200 day moving average price of $270.59. The company has a market capitalization of $115.57 billion and a price-to-earnings ratio of 75.41.

GE Vernova (NYSE:GEV) last posted its 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). The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 dividend on an annualized basis and a yield of 0.24%. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.