Pettyjohn Wood & White Inc. Buys Shares of 684 GE Vernova Inc. (NYSE:GEV)

Pettyjohn Wood & White Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 684 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC lifted its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Covestor Ltd boosted its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $325.64 on Friday. The firm has a market cap of $89.84 billion and a price-to-earnings ratio of 58.57. The stock has a 50-day simple moving average of $363.98 and a 200-day simple moving average of $303.53. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

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 the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed 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 yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

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

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.