Sanctuary Advisors LLC Purchases 9,979 Shares of GE Vernova Inc. (NYSE:GEV)

Sanctuary Advisors LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 45.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,948 shares of the company’s stock after purchasing an additional 9,979 shares during the period. Sanctuary Advisors LLC’s holdings in GE Vernova were worth $10,509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Creative Planning lifted its stake in GE Vernova by 11.4% during the third quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after purchasing an additional 5,382 shares during the last quarter. Howard Capital Management Group LLC bought a new stake in GE Vernova during the third quarter worth about $213,000. Stratos Wealth Advisors LLC bought a new stake in GE Vernova during the third quarter worth about $305,000. Blue Trust Inc. bought a new stake in GE Vernova during the third quarter worth about $602,000. Finally, Resonant Capital Advisors LLC bought a new stake in GE Vernova during the third quarter worth about $240,000.

GE Vernova Stock Performance

GEV stock opened at $372.59 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business’s 50 day moving average price is $362.38 and its two-hundred day moving average price is $295.72. The company has a market capitalization of $102.70 billion and a price-to-earnings ratio of 67.01.

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 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 analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research note on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.