Secure Asset Management LLC Acquires 1,341 Shares of GE Vernova Inc. (NYSE:GEV)

Secure Asset Management LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 103.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,637 shares of the company’s stock after purchasing an additional 1,341 shares during the period. Secure Asset Management LLC’s holdings in GE Vernova were worth $867,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Castleview Partners LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth $28,000. Covestor Ltd increased its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of GE Vernova in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC boosted its stake in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the period. Finally, Planning Capital Management Corp grew its stake in shares of GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 130 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GEV shares. Morgan Stanley increased their price objective 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. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 4.2 %

GEV stock opened at $419.27 on Friday. The business has a fifty day moving average of $351.59 and a 200-day moving average of $270.59. The company has a market cap of $115.57 billion and a P/E ratio of 75.41. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.24%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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

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.