Wealthstream Advisors Inc. Boosts Position in GE Vernova Inc. (NYSE:GEV)

Wealthstream Advisors Inc. increased its stake in GE Vernova Inc. (NYSE:GEV) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,535 shares of the company’s stock after buying an additional 249 shares during the period. Wealthstream Advisors Inc.’s holdings in GE Vernova were worth $505,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in GE Vernova by 16.2% during the 4th quarter. IFP Advisors Inc now owns 4,835 shares of the company’s stock valued at $1,590,000 after purchasing an additional 675 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in GE Vernova during the 4th quarter valued at about $1,073,000. Union Bancaire Privee UBP SA purchased a new position in GE Vernova during the 4th quarter valued at about $1,446,000. MONECO Advisors LLC purchased a new position in GE Vernova during the 4th quarter valued at about $284,000. Finally, Howard Capital Management Inc. increased its position in GE Vernova by 5.1% during the 4th quarter. Howard Capital Management Inc. now owns 1,678 shares of the company’s stock valued at $552,000 after purchasing an additional 81 shares during the period.

GE Vernova Trading Down 8.9 %

Shares of NYSE GEV opened at $327.68 on Monday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a 50 day simple moving average of $364.41 and a two-hundred day simple moving average of $301.20. The stock has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Barclays raised their target price on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird assumed coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Finally, Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $350.13.

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.