Golden State Wealth Management LLC Purchases New Position in GE Vernova Inc. (NYSE:GEV)

Golden State Wealth Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel.com reports. The fund acquired 405 shares of the company’s stock, valued at approximately $133,000.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp increased its holdings in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new position in GE Vernova in the 3rd quarter worth about $2,507,296,000. Geode Capital Management LLC lifted its stake in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter.

GE Vernova Trading Up 0.8 %

Shares of GEV opened at $377.99 on Monday. The business’s 50 day moving average is $358.59 and its 200 day moving average is $286.31. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market capitalization of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. BMO Capital Markets boosted their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Barclays raised their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

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.