GPS Wealth Strategies Group LLC Purchases 822 Shares of GE Vernova Inc. (NYSE:GEV)

GPS Wealth Strategies Group LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 1,126.0% in the 4th quarter, HoldingsChannel reports. The firm owned 895 shares of the company’s stock after buying an additional 822 shares during the period. GPS Wealth Strategies Group LLC’s holdings in GE Vernova were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp acquired a new stake in shares of GE Vernova during the second quarter worth approximately $7,832,000. Cetera Investment Advisers bought a new stake in GE Vernova during the 2nd quarter worth approximately $9,425,000. Sanctuary Advisors LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $3,025,000. Centaurus Financial Inc. bought a new position in GE Vernova in the 2nd quarter valued at $126,000. Finally, Massmutual Trust Co. FSB ADV raised its position in GE Vernova by 9.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,094 shares of the company’s stock valued at $279,000 after purchasing an additional 95 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $372.70 on Monday. The company has a 50 day moving average price of $355.29 and a two-hundred day moving average price of $279.25. The company has a market capitalization of $102.74 billion and a PE ratio of 67.03. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 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 the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GEV shares. Citigroup raised their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Barclays increased their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets boosted their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

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.