Wingate Wealth Advisors Inc. Acquires Shares of 158 GE Vernova Inc. (NYSE:GEV)

Wingate Wealth Advisors Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 158 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors also recently modified their holdings of the company. Savant Capital LLC increased its position in shares of GE Vernova by 1.4% in the 4th quarter. Savant Capital LLC now owns 9,324 shares of the company’s stock valued at $3,067,000 after purchasing an additional 130 shares during the last quarter. Angeles Wealth Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $237,000. Pelham Capital Ltd. purchased a new stake in shares of GE Vernova in the 4th quarter valued at approximately $5,247,000. Quotient Wealth Partners LLC increased its position in shares of GE Vernova by 16.7% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,153 shares of the company’s stock valued at $379,000 after purchasing an additional 165 shares during the last quarter. Finally, Northeast Investment Management purchased a new position in shares of GE Vernova in the 4th quarter valued at $204,000.

GE Vernova Stock Up 1.8 %

Shares of NYSE GEV opened at $384.71 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a 50-day moving average price of $358.59 and a 200 day moving average price of $287.18. The stock has a market capitalization of $106.04 billion and a price-to-earnings ratio of 69.19.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analyst Ratings Changes

A number of research analysts recently commented on GEV shares. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Johnson Rice started coverage on shares of GE Vernova in a research report on Friday. They issued a “buy” rating and a $425.00 target price on the stock. Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

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.