Focus Financial Network Inc. Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Focus Financial Network Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 777 shares of the company’s stock, valued at approximately $256,000.

A number of other institutional investors have also recently made changes to their positions in the business. Armstrong Advisory Group Inc. boosted its position in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the period. Hengehold Capital Management LLC boosted its holdings in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc grew its stake in GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC increased its holdings in GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the period. Finally, Pittenger & Anderson Inc. raised its position in GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares in the last quarter.

GE Vernova Stock Down 0.8 %

Shares of GE Vernova stock opened at $367.43 on Friday. The firm has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The company’s 50-day simple moving average is $361.32 and its 200-day simple moving average is $291.28.

GE Vernova (NYSE:GEV) last issued its 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 business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Dividend Announcement

The business also recently announced 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 was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GEV shares. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Johnson Rice began coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Friday, January 24th. Finally, Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty 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 has an average rating of “Moderate Buy” and an average target price of $350.13.

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.