Empower Advisory Group LLC Invests $241,000 in GE Vernova Inc. (NYSE:GEV)

Empower Advisory Group LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 732 shares of the company's stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares in the last quarter. Asset Planning Inc purchased a new position in GE Vernova in the 4th quarter valued at about $35,000. Castleview Partners LLC purchased a new position in GE Vernova in the 3rd quarter valued at about $28,000. Finally, Riggs Asset Managment Co. Inc. lifted 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 valued at $39,000 after buying an additional 57 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 target price on the stock. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Johnson Rice began coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 target price on the stock. Finally, Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Eight equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.13.

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $30.39 during trading on Friday, hitting $329.29. The company's stock had a trading volume of 4,877,285 shares, compared to its average volume of 3,652,896. The business has a 50 day moving average price of $364.50 and a two-hundred day moving average price of $298.16. The company has a market capitalization of $90.85 billion and a PE ratio of 59.23. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova's dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.