Parkwoods Wealth Partners LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Parkwoods Wealth Partners LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 745 shares of the company's stock, valued at approximately $245,000. GE Vernova accounts for 0.2% of Parkwoods Wealth Partners LLC's investment portfolio, making the stock its 24th biggest position.

Several other large investors have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares during the period. Castleview Partners LLC purchased a new stake in GE Vernova in the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC bought a new stake in GE Vernova in the second quarter worth about $29,000. Covestor Ltd boosted its position in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after buying an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price objective on the stock. in a research report on Friday, January 24th. Barclays upped their price target on shares of GE Vernova from $420.00 to $487.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $342.94.

GE Vernova Stock Down 0.4 %

Shares of GEV traded down $1.47 during trading hours on Wednesday, reaching $353.65. 5,434,890 shares of the company traded hands, compared to its average volume of 4,274,851. The business has a fifty day moving average price of $353.77 and a 200-day moving average price of $275.94. The stock has a market capitalization of $97.48 billion and a P/E ratio of 63.61. 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 announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is 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.