Atria Wealth Solutions Inc. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,949 shares of the company's stock after purchasing an additional 2,437 shares during the period. Atria Wealth Solutions Inc.'s holdings in GE Vernova were worth $4,589,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Castleview Partners LLC bought a new stake in GE Vernova in the 3rd quarter worth $28,000. Covestor Ltd grew its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in GE Vernova in the 3rd quarter worth $31,000.
Wall Street Analyst Weigh In
GEV has been the topic of a number of recent analyst reports. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday. They issued an "outperform" rating on the stock. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Finally, Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $350.13.
Check Out Our Latest Research Report on GEV
GE Vernova Stock Down 8.4 %
Shares of GE Vernova stock traded down $30.39 during midday trading on Friday, hitting $329.29. The company had a trading volume of 4,877,285 shares, compared to its average volume of 3,652,896. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock has a market cap of $90.85 billion and a price-to-earnings ratio of 59.23. The company has a fifty 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 released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business's revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
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 was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. GE Vernova's dividend payout ratio is currently 17.99%.
GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
GE Vernova 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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