Kovack Advisors Inc. Buys 31 Shares of GE Vernova Inc. (NYSE:GEV)

Kovack Advisors Inc. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,167 shares of the company’s stock after acquiring an additional 31 shares during the quarter. Kovack Advisors Inc.’s holdings in GE Vernova were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of GEV. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of GE Vernova during the 4th quarter worth $888,000. New York Life Investment Management LLC lifted its holdings in GE Vernova by 12.1% during the fourth quarter. New York Life Investment Management LLC now owns 40,932 shares of the company’s stock valued at $13,464,000 after purchasing an additional 4,418 shares during the last quarter. Whipplewood Advisors LLC bought a new position in GE Vernova during the fourth quarter worth about $261,000. Oregon Public Employees Retirement Fund increased its stake in shares of GE Vernova by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,633 shares of the company’s stock worth $7,774,000 after purchasing an additional 159 shares in the last quarter. Finally, Advisor OS LLC raised its position in shares of GE Vernova by 26.8% in the fourth quarter. Advisor OS LLC now owns 1,362 shares of the company’s stock valued at $448,000 after purchasing an additional 288 shares during the period.

GE Vernova Price Performance

Shares of GEV opened at $325.64 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a 50 day simple moving average of $363.98 and a two-hundred day simple moving average of $303.53. The firm has a market cap of $89.84 billion and a P/E ratio of 58.57.

GE Vernova (NYSE:GEV) last announced 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Finally, Truist Financial upped their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

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.