U.S. Capital Wealth Advisors LLC Acquires 1,182 Shares of GE Vernova Inc. (NYSE:GEV)

U.S. Capital Wealth Advisors LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 15.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,879 shares of the company’s stock after purchasing an additional 1,182 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in GE Vernova were worth $2,920,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Truist Financial Corp bought a new position in GE Vernova in the second quarter valued at approximately $7,832,000. Cetera Investment Advisers acquired a new position in GE Vernova during the second quarter worth $9,425,000. Sanctuary Advisors LLC bought a new stake in GE Vernova during the second quarter worth $3,025,000. Centaurus Financial Inc. acquired a new stake in GE Vernova in the second quarter valued at $126,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of GE Vernova by 9.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,094 shares of the company’s stock valued at $279,000 after acquiring an additional 95 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GEV. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a report on Friday, January 24th. Wells Fargo & Company raised their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Bank of America upped their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Stock Down 2.7 %

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

GE Vernova (NYSE:GEV) last issued 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). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are 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.