Whipplewood Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Whipplewood Advisors LLC purchased a new stake 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 purchased 792 shares of the company’s stock, valued at approximately $261,000.

Several other large investors have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its stake in shares of GE Vernova by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,633 shares of the company’s stock valued at $7,774,000 after acquiring an additional 159 shares during the last quarter. Advisor OS LLC increased its position in shares of GE Vernova by 26.8% during the fourth quarter. Advisor OS LLC now owns 1,362 shares of the company’s stock worth $448,000 after buying an additional 288 shares during the period. Longbow Finance SA acquired a new stake in shares of GE Vernova during the fourth quarter worth $8,964,000. Illinois Municipal Retirement Fund acquired a new stake in shares of GE Vernova during the fourth quarter worth $789,000. Finally, Los Angeles Capital Management LLC increased its position in shares of GE Vernova by 2,897.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 40,310 shares of the company’s stock worth $13,259,000 after buying an additional 38,965 shares during the period.

GE Vernova Price Performance

GEV opened at $325.64 on Friday. The company’s 50-day moving average is $363.98 and its 200 day moving average is $303.53. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market capitalization of $89.84 billion and a P/E ratio of 58.57.

GE Vernova (NYSE:GEV) last released its quarterly 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GEV shares. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. The Goldman Sachs Group increased 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. Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Wolfe Research initiated coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.13.

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.