Centricity Wealth Management LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Centricity Wealth Management LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 276 shares of the company’s stock, valued at approximately $91,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Howard Capital Management Group LLC acquired a new position in GE Vernova in the 3rd quarter valued at about $213,000. Private Advisor Group LLC grew its stake in shares of GE Vernova by 8.2% in the 3rd quarter. Private Advisor Group LLC now owns 20,098 shares of the company’s stock valued at $5,125,000 after purchasing an additional 1,531 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after purchasing an additional 1,431,729 shares during the period. Brighton Jones LLC raised its stake in shares of GE Vernova by 21.8% during the third quarter. Brighton Jones LLC now owns 2,562 shares of the company’s stock worth $653,000 after purchasing an additional 459 shares during the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of GE Vernova by 47.5% during the third quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock worth $2,158,000 after purchasing an additional 2,726 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEV. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets lifted their target price 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. Jefferies Financial Group increased their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Performance

GE Vernova stock opened at $327.68 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The stock has a fifty day moving average of $364.41 and a two-hundred day moving average of $299.31.

GE Vernova (NYSE:GEV) last posted 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.