Allworth Financial LP Increases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Allworth Financial LP boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 38.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,688 shares of the company's stock after buying an additional 1,590 shares during the period. Allworth Financial LP's holdings in GE Vernova were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $17,900,000. Principal Securities Inc. boosted its position in GE Vernova by 29.0% in the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock valued at $622,000 after buying an additional 425 shares during the last quarter. Everhart Financial Group Inc. boosted its position in GE Vernova by 11.0% in the fourth quarter. Everhart Financial Group Inc. now owns 3,710 shares of the company's stock valued at $1,220,000 after buying an additional 368 shares during the last quarter. Beacon Capital Management LLC boosted its position in GE Vernova by 75.5% in the fourth quarter. Beacon Capital Management LLC now owns 172 shares of the company's stock valued at $57,000 after buying an additional 74 shares during the last quarter. Finally, Members Trust Co purchased a new stake in GE Vernova in the 4th quarter worth approximately $239,000.

GE Vernova Stock Down 8.9 %

Shares of GEV traded down $32.00 during midday trading on Friday, reaching $327.68. The company had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The stock has a market cap of $90.41 billion and a PE ratio of 58.93. The firm has a 50 day simple moving average of $364.50 and a 200-day simple moving average of $298.16.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend 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 announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GEV shares. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Citigroup upped their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their price objective 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 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.13.

GE Vernova Company 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.