BKM Wealth Management LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 686 shares of the company's stock, valued at approximately $226,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% during 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. Pineridge Advisors LLC raised its stake 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 buying an additional 69 shares during the period. Asset Planning Inc bought a new stake in shares of GE Vernova during the 4th quarter valued at $35,000. Castleview Partners LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at $28,000. Finally, Riggs Asset Managment Co. Inc. increased its stake in GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock worth $39,000 after acquiring an additional 57 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on GEV. Royal Bank of Canada restated an "outperform" rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Johnson Rice began coverage on GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. The Goldman Sachs Group upped their target price on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Baird R W upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $350.13.
View Our Latest Report on GE Vernova
GE Vernova Trading Down 8.9 %
NYSE GEV traded down $32.00 on Friday, hitting $327.68. The company's stock had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market cap of $90.41 billion and a P/E ratio of 58.93. The company's 50-day simple moving average is $364.50 and its 200 day simple moving average is $298.16.
GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Announces Dividend
The business also recently disclosed 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 yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.
GE Vernova declared that its board has initiated a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
GE Vernova Company Profile
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Free Report)
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.
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