Apollon Wealth Management LLC Raises Position in GE Vernova Inc. (NYSE:GEV)

Apollon Wealth Management LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,932 shares of the company’s stock after buying an additional 933 shares during the quarter. Apollon Wealth Management LLC’s holdings in GE Vernova were worth $2,609,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter valued at $28,000. Covestor Ltd increased its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova in the 3rd quarter worth $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares in the last quarter.

GE Vernova Stock Up 0.8 %

GEV stock opened at $377.99 on Monday. The firm’s 50-day simple moving average is $358.59 and its 200 day simple moving average is $286.31. The stock has a market cap of $104.19 billion and a PE ratio of 67.98. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets lifted 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. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Barclays upped their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

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.