WESPAC Advisors SoCal LLC Acquires 1,464 Shares of GE Vernova Inc. (NYSE:GEV)

WESPAC Advisors SoCal LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 51.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,283 shares of the company’s stock after purchasing an additional 1,464 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in GE Vernova were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. Castleview Partners LLC purchased a new stake in GE Vernova during the 3rd quarter worth about $28,000. Covestor Ltd lifted its holdings 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 purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in GE Vernova during the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Citigroup raised their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Trading Down 3.2 %

Shares of NYSE:GEV opened at $361.01 on Tuesday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a 50-day moving average price of $355.29 and a 200-day moving average price of $280.05. The company has a market cap of $99.51 billion and a price-to-earnings ratio of 64.93.

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 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 company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. 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 authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

GE Vernova Company 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.