Strategic Financial Concepts LLC Takes $17.90 Million Position in GE Vernova Inc. (NYSE:GEV)

Strategic Financial Concepts LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 54,418 shares of the company’s stock, valued at approximately $17,900,000. GE Vernova comprises approximately 0.5% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Cedar Mountain Advisors LLC increased its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Castleview Partners LLC bought a new stake in GE Vernova during the 3rd quarter worth $28,000. Covestor Ltd grew its position in 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 during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in GE Vernova during the 3rd quarter worth $31,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Wells Fargo & Company boosted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Robert W. Baird started coverage on GE Vernova in a report on Thursday. They set an “outperform” rating and a $448.00 target price on the stock. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Performance

Shares of GEV opened at $367.43 on Friday. The stock has a 50 day moving average price of $361.74 and a two-hundred day moving average price of $292.64. The firm has a market capitalization of $101.28 billion and a P/E ratio of 66.08. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its board has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.