Avestar Capital LLC Purchases 108 Shares of GE Vernova Inc. (NYSE:GEV)

Avestar Capital LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 7.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,473 shares of the company’s stock after acquiring an additional 108 shares during the period. Avestar Capital LLC’s holdings in GE Vernova were worth $485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. State Street Corp boosted its holdings in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at about $2,507,296,000. Geode Capital Management LLC boosted its holdings in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Barclays increased their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Down 0.8 %

GEV stock opened at $367.43 on Friday. The firm has a market cap of $101.28 billion and a PE ratio of 66.08. The business has a 50 day moving average of $361.32 and a 200 day moving average of $291.28. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

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