Proficio Capital Partners LLC Takes $94.56 Million Position in GE Vernova Inc. (NYSE:GEV)

Proficio Capital Partners LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 287,485 shares of the company's stock, valued at approximately $94,562,000. Proficio Capital Partners LLC owned about 0.10% of GE Vernova at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GEV. Cedar Mountain Advisors LLC increased its stake 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 last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the period. Covestor Ltd increased its position in GE Vernova by 61.3% during 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 3rd quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC raised its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after buying an additional 77 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $19.99 on Monday, reaching $315.19. 4,840,312 shares of the company were exchanged, compared to its average volume of 3,974,924. The firm has a market cap of $86.96 billion and a price-to-earnings ratio of 56.69. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company's 50-day moving average is $363.85 and its two-hundred day moving average is $306.36.

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GE Vernova (NYSE:GEV - Get Free Report) last issued 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 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 firm's revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.32%. 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 authorized a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday. Morgan Stanley upped their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective on the stock. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an "outperform" rating and a $448.00 target price for the company. Eight 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.