IFP Advisors Inc Buys 675 Shares of GE Vernova Inc. (NYSE:GEV)

IFP Advisors Inc lifted its position in GE Vernova Inc. (NYSE:GEV) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,835 shares of the company’s stock after acquiring an additional 675 shares during the quarter. IFP Advisors Inc’s holdings in GE Vernova were worth $1,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Y Intercept Hong Kong Ltd bought a new position in shares of GE Vernova during the fourth quarter valued at about $1,073,000. Union Bancaire Privee UBP SA purchased a new stake in GE Vernova in the 4th quarter valued at about $1,446,000. MONECO Advisors LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $284,000. Howard Capital Management Inc. boosted its stake in shares of GE Vernova by 5.1% in the 4th quarter. Howard Capital Management Inc. now owns 1,678 shares of the company’s stock worth $552,000 after buying an additional 81 shares during the last quarter. Finally, WESPAC Advisors LLC bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $692,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Bank of America boosted their target price 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. Eight 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $335.15 on Thursday. The firm has a fifty day moving average of $364.13 and a 200 day moving average of $303.37. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market capitalization of $92.47 billion and a PE ratio of 60.28.

GE Vernova (NYSE:GEV) last announced 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). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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 dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.30%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.