WESPAC Advisors SoCal LLC Increases Position in GE Vernova Inc. (NYSE:GEV)

WESPAC Advisors SoCal LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 51.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,283 shares of the company’s stock after buying an additional 1,464 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in GE Vernova were worth $1,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp bought a new position in GE Vernova during the second quarter valued at approximately $7,832,000. Sanctuary Advisors LLC bought a new position in GE Vernova during the second quarter valued at approximately $3,025,000. Centaurus Financial Inc. bought a new position in GE Vernova during the second quarter valued at approximately $126,000. Czech National Bank raised its position in GE Vernova by 7.2% in the third quarter. Czech National Bank now owns 55,980 shares of the company’s stock worth $14,274,000 after acquiring an additional 3,751 shares during the period. Finally, Park Avenue Securities LLC bought a new position in GE Vernova in the third quarter worth approximately $2,042,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GEV shares. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research report on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday. Finally, Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Stock Down 3.2 %

Shares of NYSE:GEV opened at $361.01 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The stock has a market capitalization of $99.51 billion and a P/E ratio of 64.93. The firm has a fifty day simple moving average of $355.29 and a two-hundred day simple moving average of $280.05.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during 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%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date 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%.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management 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.