Callan Family Office LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Callan Family Office LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,985 shares of the company's stock, valued at approximately $1,311,000.

Other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its holdings in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after acquiring an additional 39 shares during the period. Pineridge Advisors LLC raised its holdings in shares of 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 purchasing an additional 69 shares in the last quarter. Covestor Ltd raised its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after buying an additional 77 shares in the last quarter.

GE Vernova Stock Down 1.5 %

Shares of GEV traded down $4.32 during mid-day trading on Friday, hitting $288.90. 7,396,699 shares of the company's stock were exchanged, compared to its average volume of 4,199,504. The stock has a market cap of $79.71 billion and a price-to-earnings ratio of 51.96. The firm has a fifty day moving average of $360.05 and a two-hundred day moving average of $309.70. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

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GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 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 business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GEV. Barclays dropped their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Robert W. Baird started coverage on GE Vernova in a report on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price for the company. Citigroup increased their price target on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. BMO Capital Markets cut their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Finally, Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. 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 stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $347.83.

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.