FourThought Financial Partners LLC Purchases New Position in GE Vernova Inc. (NYSE:GEV)

FourThought Financial Partners LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 646 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. increased its holdings in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC grew its holdings in shares of GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC raised its holdings 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 valued at $888,000 after buying an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after buying an additional 31 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of several research reports. CICC Research assumed coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Truist Financial raised their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. BMO Capital Markets upped their price objective on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Trading Up 5.5 %

GEV stock opened at $335.15 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market cap of $92.47 billion and a PE ratio of 60.28. The business’s 50-day moving average price is $364.13 and its two-hundred day moving average price is $303.37.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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