Angeles Wealth Management LLC Takes $237,000 Position in GE Vernova Inc. (NYSE:GEV)

Angeles Wealth Management LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 720 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC lifted its holdings in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares during the period. AdvisorNet Financial Inc boosted its position in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares during the period. Finally, Pittenger & Anderson Inc. increased its position in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Barclays boosted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. The Goldman Sachs Group boosted 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. Finally, Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Price Performance

NYSE:GEV opened at $384.71 on Tuesday. The company has a market cap of $106.04 billion and a price-to-earnings ratio of 69.19. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock’s 50 day simple moving average is $358.59 and its two-hundred day simple moving average is $287.18.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.26%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.