Larson Financial Group LLC Acquires 316 Shares of GE Vernova Inc. (NYSE:GEV)

Larson Financial Group LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,675 shares of the company’s stock after buying an additional 316 shares during the quarter. Larson Financial Group LLC’s holdings in GE Vernova were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in GEV. HM Payson & Co. boosted its position in shares of GE Vernova by 7.3% in the fourth quarter. HM Payson & Co. now owns 6,087 shares of the company’s stock worth $2,002,000 after purchasing an additional 415 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of GE Vernova by 9.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 780 shares of the company’s stock worth $283,000 after purchasing an additional 70 shares during the period. Andra AP fonden bought a new position in shares of GE Vernova in the fourth quarter worth approximately $1,357,000. Ashton Thomas Private Wealth LLC boosted its position in shares of GE Vernova by 16.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,058 shares of the company’s stock worth $348,000 after purchasing an additional 150 shares during the period. Finally, Callan Family Office LLC bought a new position in shares of GE Vernova in the fourth quarter worth approximately $1,311,000.

GE Vernova Stock Down 1.5 %

GEV stock opened at $288.90 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $79.71 billion and a price-to-earnings ratio of 51.96. The firm’s fifty day simple moving average is $360.05 and its two-hundred day simple moving average is $309.70.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. TD Cowen began 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. The Goldman Sachs Group upped their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $347.83.

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.