International Private Wealth Advisors LLC Takes $248,000 Position in GE Vernova Inc. (NYSE:GEV)

International Private Wealth Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The fund acquired 753 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds also recently bought and sold shares of the stock. Soltis Investment Advisors LLC increased its holdings in shares of GE Vernova by 36.4% in the 4th quarter. Soltis Investment Advisors LLC now owns 2,449 shares of the company’s stock valued at $806,000 after acquiring an additional 654 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in GE Vernova during the fourth quarter valued at about $52,000. Savant Capital LLC grew its stake in GE Vernova by 1.4% in the fourth quarter. Savant Capital LLC now owns 9,324 shares of the company’s stock valued at $3,067,000 after purchasing an additional 130 shares during the last quarter. Angeles Wealth Management LLC bought a new position in GE Vernova in the fourth quarter worth about $237,000. Finally, Pelham Capital Ltd. purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $5,247,000.

GE Vernova Trading Up 1.8 %

GE Vernova stock opened at $384.71 on Tuesday. The firm has a market cap of $106.04 billion and a PE ratio of 69.19. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock’s 50 day simple moving average is $358.59 and its two-hundred day simple moving average is $287.18.

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

GE Vernova announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid 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 0.26%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Truist Financial lifted their price target 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. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Johnson Rice initiated coverage on GE Vernova in a research note on Friday. They issued a “buy” rating and a $425.00 price target for the company. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $346.22.

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.