SPC Financial Inc. Invests $281,000 in GE Vernova Inc. (NYSE:GEV)

SPC Financial Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 855 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also modified their holdings of GEV. Armstrong Advisory Group Inc. raised its holdings in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC grew its position in shares of 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 last quarter. AdvisorNet Financial Inc grew its position in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC grew its position in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after buying an additional 31 shares in the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $347.83.

GE Vernova Stock Performance

Shares of GEV stock opened at $317.17 on Thursday. The firm’s 50-day moving average is $361.95 and its 200-day moving average is $308.22. The stock has a market cap of $87.51 billion and a price-to-earnings ratio of 57.04. 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 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 during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts predict 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 authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.32%. GE Vernova’s dividend payout ratio is currently 17.99%.

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.