BKM Wealth Management LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

BKM Wealth Management LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel reports. The institutional investor bought 686 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning increased its position in GE Vernova by 11.4% during the 3rd quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after purchasing an additional 5,382 shares in the last quarter. Howard Capital Management Group LLC acquired a new position in GE Vernova during the 3rd quarter worth approximately $213,000. Stratos Wealth Advisors LLC acquired a new position in GE Vernova during the 3rd quarter worth approximately $305,000. Blue Trust Inc. acquired a new position in GE Vernova during the 3rd quarter worth approximately $602,000. Finally, Resonant Capital Advisors LLC acquired a new position in GE Vernova during the 3rd quarter worth approximately $240,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on GEV. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their target price 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. Finally, Barclays boosted their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Trading Up 1.4 %

GEV opened at $372.59 on Wednesday. The company’s fifty day moving average price is $363.28 and its two-hundred day moving average price is $297.19. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a market cap of $102.70 billion and a price-to-earnings ratio of 67.01.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its Board of Directors has approved 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 buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is 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.