Avalon Capital Management Increases Stake in GE Vernova Inc. (NYSE:GEV)

Avalon Capital Management grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 43.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,680 shares of the company’s stock after buying an additional 505 shares during the period. Avalon Capital Management’s holdings in GE Vernova were worth $553,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at about $213,000. GHP Investment Advisors Inc. increased its holdings in shares of GE Vernova by 19.3% in the 3rd quarter. GHP Investment Advisors Inc. now owns 401 shares of the company’s stock valued at $102,000 after purchasing an additional 65 shares in the last quarter. Modera Wealth Management LLC increased its holdings in shares of GE Vernova by 7.1% in the 3rd quarter. Modera Wealth Management LLC now owns 2,862 shares of the company’s stock valued at $730,000 after purchasing an additional 189 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of GE Vernova by 15.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 151,508 shares of the company’s stock valued at $37,531,000 after purchasing an additional 19,840 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of GE Vernova by 4.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,062 shares of the company’s stock valued at $1,036,000 after purchasing an additional 158 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $315.74 on Tuesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market cap of $87.11 billion and a price-to-earnings ratio of 56.79. The firm has a fifty day moving average of $363.97 and a 200-day moving average of $302.17.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current 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 outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEV. TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Barclays raised their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

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.