Cardinal Strategic Wealth Guidance Takes $266,000 Position in GE Vernova Inc. (NYSE:GEV)

Cardinal Strategic Wealth Guidance bought a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The firm bought 809 shares of the company’s stock, valued at approximately $266,000.

Other large investors also recently bought and sold shares of the company. Sovran Advisors LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at about $281,000. Stonebridge Financial Group LLC purchased a new position in GE Vernova during the 4th quarter worth approximately $104,000. Essex Financial Services Inc. boosted its holdings in shares of GE Vernova by 2.6% in the 4th quarter. Essex Financial Services Inc. now owns 6,408 shares of the company’s stock valued at $2,108,000 after acquiring an additional 160 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth $263,000. Finally, Focus Financial Network Inc. acquired a new position in GE Vernova during the fourth quarter valued at $256,000.

GE Vernova Price Performance

NYSE:GEV opened at $384.71 on Tuesday. The business’s fifty day moving average price is $358.59 and its 200 day moving average price is $287.18. 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 $106.04 billion and a PE ratio of 69.19.

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). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. 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 0.26%. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Morgan Stanley increased their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Citigroup raised their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

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.