MONECO Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

MONECO Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 864 shares of the company’s stock, valued at approximately $284,000.

Several other large investors also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Asset Planning Inc purchased a new stake in GE Vernova during the fourth quarter valued at about $35,000. Riggs Asset Managment Co. Inc. lifted its stake in GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after buying an additional 57 shares in the last quarter. Finally, Covestor Ltd lifted its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $318.00 on Wednesday. The stock has a 50 day simple moving average of $363.77 and a 200 day simple moving average of $303.15. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market capitalization of $87.74 billion and a PE ratio of 57.19.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial upped their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Jefferies Financial Group increased their price target 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. Finally, TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.