Journey Strategic Wealth LLC Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Journey Strategic Wealth LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 35.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,769 shares of the company’s stock after purchasing an additional 466 shares during the quarter. Journey Strategic Wealth LLC’s holdings in GE Vernova were worth $582,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Castleview Partners LLC purchased a new stake in GE Vernova during the 3rd quarter valued at approximately $28,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Stock Down 2.7 %

NYSE GEV opened at $372.70 on Monday. The stock has a market cap of $102.74 billion and a price-to-earnings ratio of 67.03. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business has a fifty day moving average of $355.29 and a 200-day moving average of $279.25.

GE Vernova (NYSE:GEV) last released its 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). The firm had revenue of $10.56 billion during 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%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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 paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.27%. GE Vernova’s payout ratio is currently 17.99%.

Analyst Ratings Changes

Several brokerages recently weighed in on GEV. Morgan Stanley increased their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group raised their price objective 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. Finally, Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $342.94.

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.