Callan Family Office LLC Invests $1.31 Million in GE Vernova Inc. (NYSE:GEV)

Callan Family Office LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The fund bought 3,985 shares of the company’s stock, valued at approximately $1,311,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at about $213,000. Janney Montgomery Scott LLC raised its position in GE Vernova by 16.6% during the third quarter. Janney Montgomery Scott LLC now owns 38,389 shares of the company’s stock valued at $9,789,000 after acquiring an additional 5,472 shares in the last quarter. Catalina Capital Group LLC purchased a new position in GE Vernova during the third quarter valued at approximately $202,000. Forte Capital LLC ADV acquired a new position in GE Vernova in the third quarter valued at approximately $231,000. Finally, Graypoint LLC boosted its position in GE Vernova by 18.7% in the 3rd quarter. Graypoint LLC now owns 2,150 shares of the company’s stock worth $548,000 after purchasing an additional 338 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $288.90 on Friday. The company has a market capitalization of $79.71 billion and a PE ratio of 51.96. The firm’s 50-day moving average is $360.05 and its two-hundred day moving average is $308.83. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

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

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

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEV. Jefferies Financial Group upped their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

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.