GE Vernova Inc. (NYSE:GEV) Shares Acquired by PFG Investments LLC

PFG Investments LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,303 shares of the company’s stock after acquiring an additional 557 shares during the quarter. PFG Investments LLC’s holdings in GE Vernova were worth $2,402,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $29,000. Covestor Ltd boosted its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth about $31,000.

GE Vernova Stock Down 4.2 %

Shares of GE Vernova stock opened at $419.27 on Monday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market cap of $115.57 billion and a PE ratio of 75.41. The business’s fifty day moving average is $353.38 and its two-hundred day moving average is $272.98.

GE Vernova (NYSE:GEV) last issued its quarterly 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

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

GE Vernova declared that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

GEV has been the subject of several research reports. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Barclays boosted their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.73.

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.