Boyd Watterson Asset Management LLC OH Buys 472 Shares of GE Vernova Inc. (NYSE:GEV)

Boyd Watterson Asset Management LLC OH lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 60.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,259 shares of the company’s stock after acquiring an additional 472 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in GE Vernova were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. grew its holdings in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC lifted its position in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Wolfe Research began coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Down 8.9 %

Shares of NYSE GEV opened at $327.68 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The business’s 50 day moving average price is $364.41 and its 200 day moving average price is $299.31. The firm has a market cap of $90.41 billion and a P/E ratio of 58.93.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business 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 firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

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

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.