WESPAC Advisors LLC Buys New Position in GE Vernova Inc. (NYSE:GEV)

WESPAC Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 2,104 shares of the company’s stock, valued at approximately $692,000.

Several other hedge funds have also modified their holdings of the stock. Wealthspire Advisors LLC raised its holdings in shares of GE Vernova by 8.7% during the 4th quarter. Wealthspire Advisors LLC now owns 4,989 shares of the company’s stock valued at $1,641,000 after buying an additional 400 shares during the period. TCW Group Inc. increased its holdings in GE Vernova by 24.9% during the 4th quarter. TCW Group Inc. now owns 193,140 shares of the company’s stock worth $63,530,000 after purchasing an additional 38,547 shares during the last quarter. Sigma Planning Corp increased its holdings in GE Vernova by 9.4% during the 4th quarter. Sigma Planning Corp now owns 4,241 shares of the company’s stock worth $1,395,000 after purchasing an additional 364 shares during the last quarter. Thompson Davis & CO. Inc. increased its holdings in GE Vernova by 3.7% during the 4th quarter. Thompson Davis & CO. Inc. now owns 2,125 shares of the company’s stock worth $699,000 after purchasing an additional 75 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH increased its holdings in GE Vernova by 60.0% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 1,259 shares of the company’s stock worth $414,000 after purchasing an additional 472 shares during the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $327.68 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The firm has a market capitalization of $90.41 billion and a P/E ratio of 58.93. The business has a 50 day simple moving average of $364.41 and a 200 day simple moving average of $300.25.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Research analysts anticipate 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 share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

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 dividend on an annualized basis and a yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GEV shares. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $350.13.

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.