NewSquare Capital LLC Has $46,000 Stake in GE Vernova Inc. (NYSE:GEV)

NewSquare Capital LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139 shares of the company’s stock after purchasing an additional 34 shares during the period. NewSquare Capital LLC’s holdings in GE Vernova were worth $46,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GEV. Armstrong Advisory Group Inc. lifted its stake in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC raised its holdings in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its holdings in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its position in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research note on Tuesday, January 28th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $347.83.

GE Vernova Trading Up 1.3 %

Shares of GEV stock opened at $317.17 on Thursday. The stock has a market cap of $87.51 billion and a P/E ratio of 57.04. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a 50 day simple moving average of $361.95 and a 200 day simple moving average of $308.22.

GE Vernova (NYSE:GEV) last released its earnings results 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.