GPS Wealth Strategies Group LLC Buys 822 Shares of GE Vernova Inc. (NYSE:GEV)

GPS Wealth Strategies Group LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,126.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 895 shares of the company's stock after purchasing an additional 822 shares during the period. GPS Wealth Strategies Group LLC's holdings in GE Vernova were worth $294,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CENTRAL TRUST Co lifted its holdings in GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock worth $3,247,000 after acquiring an additional 1,408 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock worth $39,000 after purchasing an additional 57 shares during the period. Sutton Place Investors LLC purchased a new position in shares of GE Vernova in the 4th quarter worth about $212,000. U.S. Capital Wealth Advisors LLC increased its holdings in GE Vernova by 15.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,879 shares of the company's stock worth $2,920,000 after buying an additional 1,182 shares during the last quarter. Finally, Greenleaf Trust raised its position in GE Vernova by 6.0% in the fourth quarter. Greenleaf Trust now owns 5,977 shares of the company's stock worth $1,966,000 after acquiring an additional 340 shares during the period.

GE Vernova Price Performance

GEV stock traded up $10.90 during mid-day trading on Wednesday, hitting $367.43. 2,805,687 shares of the stock were exchanged, compared to its average volume of 4,193,311. The business has a fifty day moving average price of $356.29 and a 200 day moving average price of $282.82. The stock has a market capitalization of $101.28 billion and a price-to-earnings ratio of 66.08. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

GEV has been the subject of a number of research reports. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Morgan Stanley lifted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a "buy" rating and a $354.00 target price for the company. Finally, William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $342.94.

About GE Vernova

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.