Childress Capital Advisors LLC Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Childress Capital Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 31.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,165 shares of the company’s stock after acquiring an additional 282 shares during the quarter. Childress Capital Advisors LLC’s holdings in GE Vernova were worth $383,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd raised its stake in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new position in GE Vernova during the 4th quarter worth approximately $206,000. Hanlon Investment Management Inc. bought a new position in GE Vernova during the 3rd quarter worth approximately $1,101,000. Atria Investments Inc grew its position in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Finally, Fractal Investments LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $1,530,000.

GE Vernova Trading Down 3.2 %

Shares of NYSE GEV opened at $361.01 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a 50-day moving average of $355.29 and a two-hundred day moving average of $280.05. The company has a market capitalization of $99.51 billion and a price-to-earnings ratio of 64.93.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current year.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Wells Fargo & Company raised their target price 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. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a report on Friday, January 24th. Finally, The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Company 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.