Global Retirement Partners LLC Purchases 269 Shares of GE Vernova Inc. (NYSE:GEV)

Global Retirement Partners LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.0% during the fourth quarter, Holdings Channel reports. The firm owned 4,776 shares of the company’s stock after acquiring an additional 269 shares during the period. Global Retirement Partners LLC’s holdings in GE Vernova were worth $1,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Waverton Investment Management Ltd lifted its position in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. bought a new stake in GE Vernova during the third quarter worth $1,101,000. Atria Investments Inc boosted its position in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the period.

GE Vernova Stock Down 4.2 %

NYSE:GEV opened at $359.57 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 cap of $99.21 billion and a P/E ratio of 64.67. The business’s 50-day moving average price is $364.50 and its two-hundred day moving average price is $298.16.

GE Vernova (NYSE:GEV) last announced its earnings results 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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced 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 reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently announced 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 yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, CICC Research started coverage on GE Vernova in a research note on Wednesday. They issued an “outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price 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.