Steward Partners Investment Advisory LLC Purchases 1,075 Shares of GE Vernova Inc. (NYSE:GEV)

Steward Partners Investment Advisory LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,399 shares of the company's stock after purchasing an additional 1,075 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in GE Vernova were worth $5,065,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC lifted its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the period. Covestor Ltd lifted its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 77 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $347.83.

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GE Vernova Stock Down 1.5 %

Shares of NYSE:GEV traded down $4.32 during midday trading on Friday, reaching $288.90. 7,396,699 shares of the company traded hands, compared to its average volume of 4,199,504. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The firm has a market capitalization of $79.71 billion and a price-to-earnings ratio of 51.96. The firm's fifty day moving average price is $360.05 and its two-hundred day moving average price is $310.59.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. GE Vernova's dividend payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share repurchase program 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 programs are generally a sign that the company's leadership 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.