Davidson Trust Co. bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 725 shares of the company's stock, valued at approximately $238,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Creative Planning lifted its stake in shares of GE Vernova by 11.4% in the 3rd quarter. Creative Planning now owns 52,641 shares of the company's stock valued at $13,422,000 after purchasing an additional 5,382 shares during the period. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $213,000. Stratos Wealth Advisors LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $305,000. Net Worth Advisory Group purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $244,000. Finally, Blue Trust Inc. purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $602,000.
Analyst Ratings Changes
A number of research analysts have issued reports on GEV shares. Robert W. Baird started coverage on GE Vernova in a research note on Thursday, February 13th. They set an "outperform" rating and a $448.00 price objective for the company. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. BMO Capital Markets lifted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Finally, Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price objective for the company. in a research note on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.13.
Check Out Our Latest Report on GE Vernova
GE Vernova Trading Down 8.9 %
NYSE GEV traded down $32.00 on Friday, hitting $327.68. 6,959,273 shares of the company traded hands, compared to its average volume of 3,723,897. The company has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The business's 50 day moving average price is $364.41 and its 200-day moving average price is $299.31. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last released its 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). The company had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company's revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
GE Vernova Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.
About GE Vernova
(
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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