Catalyst Financial Partners LLC Acquires 38 Shares of GE Vernova Inc. (NYSE:GEV)

Catalyst Financial Partners LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,444 shares of the company’s stock after buying an additional 38 shares during the quarter. Catalyst Financial Partners LLC’s holdings in GE Vernova were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% in 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 last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Castleview Partners LLC bought a new position in GE Vernova in the third quarter valued at approximately $28,000. Covestor Ltd increased its stake in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in GE Vernova in the third quarter valued at approximately $31,000.

GE Vernova Stock Up 0.2 %

Shares of NYSE GEV opened at $370.45 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a fifty day simple moving average of $360.87 and a 200 day simple moving average of $290.73. The company has a market capitalization of $102.11 billion and a PE ratio of 66.63.

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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Analyst Ratings Changes

GEV has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Finally, Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.