LexAurum Advisors LLC Purchases 312 Shares of GE Vernova Inc. (NYSE:GEV)

LexAurum Advisors LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 38.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,120 shares of the company’s stock after purchasing an additional 312 shares during the quarter. LexAurum Advisors LLC’s holdings in GE Vernova were worth $368,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GEV. Sei Investments Co. bought a new position in shares of GE Vernova in the second quarter worth $14,126,000. Thrivent Financial for Lutherans purchased a new position in GE Vernova in the second quarter worth $2,339,000. Public Sector Pension Investment Board purchased a new position in GE Vernova in the second quarter worth $1,800,000. Evergreen Capital Management LLC purchased a new position in GE Vernova in the second quarter worth $287,000. Finally, Insigneo Advisory Services LLC purchased a new position in GE Vernova in the second quarter worth $275,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GEV. Truist Financial upped their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. 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 report on Friday, December 13th. Citigroup upped their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Price Performance

GEV stock opened at $419.27 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market cap of $115.57 billion and a P/E ratio of 75.41. The firm has a 50-day moving average of $351.59 and a 200 day moving average of $270.59.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova declared that its board has initiated a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

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.