Investment Partners Asset Management Inc. Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Investment Partners Asset Management Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 631 shares of the company’s stock, valued at approximately $208,000.

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

GE Vernova Trading Down 0.8 %

Shares of GEV stock opened at $369.76 on Thursday. The company has a market capitalization of $101.92 billion and a P/E ratio of 66.50. The business’s 50 day moving average is $360.87 and its two-hundred day moving average is $290.73. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm 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 company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts predict 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 share buyback plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 yield of 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEV shares. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Johnson Rice began coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Morgan Stanley raised their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Finally, Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday. They issued an “outperform” rating and a $448.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.