Vision Financial Markets LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Vision Financial Markets LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 268 shares of the company’s stock, valued at approximately $88,000.

A number of other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its holdings in shares of 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 purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd increased its holdings in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares in the last quarter.

GE Vernova Trading Up 1.3 %

GEV opened at $317.17 on Thursday. The stock has a market capitalization of $87.51 billion and a P/E ratio of 57.04. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The firm’s fifty day simple moving average is $361.95 and its 200 day simple moving average is $308.22.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.32%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citigroup raised their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. BMO Capital Markets lowered their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday. Finally, Bank of America lifted 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. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $347.83.

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.