GE Vernova Inc. (NYSE:GEV) Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,022 shares of the company’s stock after purchasing an additional 81 shares during the period. Resonant Capital Advisors LLC’s holdings in GE Vernova were worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalina Capital Group LLC boosted its stake in GE Vernova by 6.4% in the 4th quarter. Catalina Capital Group LLC now owns 843 shares of the company’s stock worth $277,000 after purchasing an additional 51 shares in the last quarter. JB Capital LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $241,000. Chicago Capital LLC raised its stake in GE Vernova by 9.3% in the 4th quarter. Chicago Capital LLC now owns 5,101 shares of the company’s stock worth $1,678,000 after acquiring an additional 433 shares during the last quarter. FSM Wealth Advisors LLC grew its stake in GE Vernova by 11.5% during the 4th quarter. FSM Wealth Advisors LLC now owns 1,907 shares of the company’s stock valued at $627,000 after purchasing an additional 197 shares during the last quarter. Finally, Burford Brothers Inc. increased its holdings in shares of GE Vernova by 1.5% in the fourth quarter. Burford Brothers Inc. now owns 3,145 shares of the company’s stock valued at $1,034,000 after purchasing an additional 46 shares during the period.

GE Vernova Price Performance

Shares of GEV stock opened at $361.01 on Tuesday. The firm’s 50-day moving average is $355.29 and its two-hundred day moving average is $280.05. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $99.51 billion and a PE ratio of 64.93.

GE Vernova (NYSE:GEV) last announced its quarterly 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 during 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%. The firm’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova declared that its board has approved a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 dividend on an annualized basis and a dividend yield of 0.28%. GE Vernova’s payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. BMO Capital Markets upped their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Barclays lifted their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $342.94.

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.