Angeles Wealth Management LLC Takes $237,000 Position in GE Vernova Inc. (NYSE:GEV)

Angeles Wealth Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 720 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its stake in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC grew its position in GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc increased its stake in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC lifted its position in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $384.71 on Tuesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market cap of $106.04 billion and a PE ratio of 69.19. The business has a 50-day simple moving average of $358.59 and a two-hundred day simple moving average of $287.18.

GE Vernova (NYSE:GEV) last released its earnings results 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). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEV shares. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Evercore ISI lifted their price target 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. Johnson Rice assumed coverage on GE Vernova in a research note on Friday. They issued a “buy” rating and a $425.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $346.22.

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.