Pettyjohn Wood & White Inc. Invests $225,000 in GE Vernova Inc. (NYSE:GEV)

Pettyjohn Wood & White Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 684 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its holdings 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 acquiring an additional 39 shares during the period. Pineridge Advisors LLC lifted its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Asset Planning Inc bought a new stake in GE Vernova during the 4th quarter valued at approximately $35,000. Riggs Asset Managment Co. Inc. grew its holdings in GE Vernova by 93.4% in the 4th 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 during the last quarter. Finally, Covestor Ltd increased its position in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GEV shares. Bank of America raised their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. TD Cowen initiated 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 on the stock. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Truist Financial upped 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. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $325.64 on Friday. The business has a fifty day moving average of $363.98 and a 200-day moving average of $303.53. The firm has a market cap of $89.84 billion and a PE ratio of 58.57. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. 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 dividend payout ratio is 17.99%.

GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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.