Larson Financial Group LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Larson Financial Group LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,675 shares of the company’s stock after purchasing an additional 316 shares during the period. Larson Financial Group LLC’s holdings in GE Vernova were worth $1,867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Waverton Investment Management Ltd lifted its position in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth about $206,000. Atria Investments Inc lifted its position in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the period. GPS Wealth Strategies Group LLC lifted its position in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the period. Finally, Assetmark Inc. lifted its position in GE Vernova by 1,280.4% during the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock valued at $1,961,000 after acquiring an additional 7,132 shares during the period.

GE Vernova Stock Down 1.5 %

Shares of GEV stock opened at $288.90 on Friday. The company has a 50 day moving average price of $360.05 and a 200-day moving average price of $309.70. 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 $79.71 billion and a PE ratio of 51.96.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced 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 of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.35%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research 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 company an “overweight” rating in a research report on Friday, December 13th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $347.83.

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.