FSM Wealth Advisors LLC Purchases 197 Shares of GE Vernova Inc. (NYSE:GEV)

FSM Wealth Advisors LLC raised its position in GE Vernova Inc. (NYSE:GEV) by 11.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,907 shares of the company’s stock after buying an additional 197 shares during the period. FSM Wealth Advisors LLC’s holdings in GE Vernova were worth $627,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Waverton Investment Management Ltd raised its holdings in 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 during the period. Register Financial Advisors LLC acquired a new position in GE Vernova in the 4th quarter worth $206,000. Hanlon Investment Management Inc. acquired a new position in GE Vernova in the 3rd quarter worth $1,101,000. Atria Investments Inc increased its holdings in GE Vernova by 127.0% during the 3rd 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 in the last quarter. Finally, Fractal Investments LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $1,530,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GEV shares. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Morgan Stanley boosted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays lifted their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, Truist Financial lifted their target price 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 equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $372.70 on Monday. The firm has a 50-day moving average of $355.29 and a 200-day moving average of $279.25. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a market cap of $102.74 billion and a PE ratio of 67.03.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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). 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 analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders 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 yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.